I think you are mistake. They posted a $2.8m lose for the latest qtr. which was an improvement over past performances. They have not been profitable for some time now and also just announced the sell of 14 more motels to Starwood.
I'm not of the opinion that GAAP basis EPS is a particularly good measurement of the performance of the Company, nor do I think that it would necessarily be a driver of the share price.
I look at REITs based upon their ability to generate operating cash flows, which have been on a nice up-swing...What causes my mixed feelings is the increasing concentration of the properties in just a few (albeit quite profitable) markets.
NYC is best hotel market in country by far. That they have concentration in NYC is big plus. Other markets pretty good also. I follow AHT, FCH and HPT and HT had by far the best RevPar gain. Their hotel generally are not as good as other REITs, but in the right places.