LaSalle Hotel Properties: 2Q Earnings Snapshot
{{#rendered}} {{/rendered}}BETHESDA, Md. (AP) _ LaSalle Hotel Properties (LHO) on Thursday reported a key measure of profitability in its second quarter. The results beat Wall Street expectations.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $88.3 million, or 80 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 77 cents per share.
{{#rendered}} {{/rendered}}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 $31.6 million, or 28 cents per share.
The real estate investment trust posted revenue of $304.6 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $302.2 million.
{{#rendered}} {{/rendered}}The company's shares have risen 22 percent since the beginning of the year. The stock has increased 22 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on LHO at https://www.zacks.com/ap/LHO