Ashford Hospitality Trust: 1Q Earnings Snapshot
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DALLAS (AP) _ Ashford Hospitality Trust Inc. (AHT) on Thursday reported a key measure of profitability in its first quarter. The results matched Wall Street expectations.
The Dallas-based real estate investment trust said it had funds from operations of $31.4 million, or 28 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 28 cents per share.
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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 $36.9 million, or 39 cents per share.
The hotel owner posted revenue of $342.2 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $349.4 million.
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The company's shares have risen roughly 5 percent since the beginning of the year.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on AHT at https://www.zacks.com/ap/AHT