Braemar Hotels & Resorts: 4Q Earnings Snapshot

DALLAS (AP) _ Braemar Hotels & Resorts, Inc. (BHR) on Thursday reported a loss in funds from operations in its fourth quarter, after reporting a profit in the same period a year earlier. The results exceeded Wall Street expectations.

The Dallas-based real estate investment trust said it had a funds from operations loss of $7.9 million, or 17 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for a funds from operations loss of 19 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 $28.3 million, or 77 cents per share.

The hotel owner posted revenue of $51.8 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $50.5 million.

For the year, the company reported funds from operations losses of $41.7 million, swinging to a loss in the period. Revenue was reported as $227 million.

The company's shares have increased 50% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $6.90, a drop of 12% in the last 12 months.

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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 BHR at https://www.zacks.com/ap/BHR