Hospitality Properites: 2Q Earnings Snapshot

NEWTON, Mass. (AP) _ Hospitality Properites Trust (HPT) on Thursday reported a key measure of profitability in its second quarter. The results met Wall Street expectations.

The Newton, Massachusetts-based real estate investment trust said it had funds from operations of $176.2 million, or $1.07 per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.07 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 net income of $97.3 million, or 59 cents per share.

The real estate investment trust posted revenue of $612 million in the period, which topped Street forecasts. Four analysts surveyed by Zacks expected $591.8 million.

The company's shares have fallen 6 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 HPT at