DALLAS – DALLAS (AP) _ Ashford Hospitality Trust Inc. (AHT) on Thursday reported a key measure of profitability in its third quarter. The results exceeded Wall Street expectations.
The Dallas-based real estate investment trust said it had funds from operations of $34.3 million, or 30 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 28 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 $38.2 million, or 40 cents per share.
The hotel owner posted revenue of $355.9 million in the period, which fell short of Street forecasts. Five analysts surveyed by Zacks expected $359.9 million.
The company's shares have dropped 24 percent since the beginning of the year.
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