Summary : DALLAS (AP) _ Ashford Hospitality Trust Inc. (AHT)
The real estate investment trust, based in Dallas, said it had funds from operations of $44.6 million, or $1.23 per share, in the period. The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 92 cents per share. The hotel owner posted revenue of $348.1 million in the period, which also topped Street forecasts.
DALLAS (AP) _ Ashford Hospitality Trust Inc. (AHT) on Tuesday reported a key measure of profitability in its second quarter, after reporting a loss in the same period a year earlier. The results surpassed Wall Street expectations.The real estate investment trust, based in Dallas, said it had funds from operations of $44.6 million, or $1.23 per share, in the period.The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 92 cents per share. Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization. The company said it had a loss of $9.3 million, or 27 cents per share. The hotel owner posted revenue of $348.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $330.4 million. The company’s shares have declined nearly 4% since the beginning of the year. Check levels down to the neighborhood Ratings for the Bay Area and California, updated every 10 minutes This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AHT at https://www.zacks.com/ap/AHT
