BETHESDA, Md. – BETHESDA, Md. (AP) _ LaSalle Hotel Properties (LHO) on Thursday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $81.4 million, or 74 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 69 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 $87.4 million, or 79 cents per share.
The real estate investment trust posted revenue of $298 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $290.7 million.
The company's shares have risen 19 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.33, an increase of 18 percent in the last 12 months.
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