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HARRISBURG, Pa. (AP) _ Hersha Hospitality Trust (HT) on Monday reported a key measure of profitability in its first quarter.
The Harrisburg, Pennsylvania-based real estate investment trust said it had funds from operations of $6.3 million, or less than 1 cent on a per-share basis, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 13 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 $13 million, or 34 cents per share.
The hotel real estate investment trust, based in Harrisburg, Pennsylvania, posted revenue of $114.8 million in the period, which beat Street forecasts. Seven analysts surveyed by Zacks expected $109.2 million.
For the current quarter ending in July, Hersha Hospitality expects its per-share funds from operations to range from 79 cents to 83 cents.
The company expects full-year funds from operations in the range of $2.22 to $2.35 per share.
The company's shares have climbed 4% since the beginning of the year. In the final minutes of trading on Monday, shares hit $18.25, a decline of nearly 3% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HT at https://www.zacks.com/ap/HT