BETHESDA, Md. (AP) _ LaSalle Hotel Properties (LHO) on Wednesday reported a key measure of profitability in its fourth quarter. The results did not meet Wall Street expectations.
The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $69.8 million, or 62 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 63 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 net income of $21.3 million, or 19 cents per share.
The real estate investment trust posted revenue of $289.5 million in the period, also missing Street forecasts. Eight analysts surveyed by Zacks expected $289.8 million.
For the year, the company reported funds from operations of $328.9 million, or $2.90 per share. Revenue was reported as $1.23 billion.
The company's shares have dropped 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $29.84, an increase of 22 percent 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 LHO at https://www.zacks.com/ap/LHO
Keywords: LaSalle Hotel Properties, Earnings Report