Ashford Hospitality Trust: 3Q Earnings Snapshot

·1 min read

DALLAS (AP) _ Ashford Hospitality Trust Inc. (AHT) on Tuesday reported a loss in funds from operations in its third quarter, after reporting a profit in the same period a year earlier. The results beat Wall Street expectations.

The real estate investment trust, based in Dallas, said it had a funds from operations loss of $62.4 million, or $4.57 per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for a funds from operations loss of $5.62 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 $109 million, or $9.26 per share.

The hotel owner posted revenue of $93 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $133.3 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AHT at https://www.zacks.com/ap/AHT