DALLAS (AP) _ Ashford Hospitality Trust Inc. (AHT) on Tuesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The Dallas-based real estate investment trust said it had funds from operations of $32.9 million, or 28 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 27 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 $41.8 million, or 42 cents per share.
The hotel owner posted revenue of $374.2 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $372.8 million.