Xenia Hotels & Resorts: 2Q Earnings Snapshot
ORLANDO, Fla. (AP) _ Xenia Hotels & Resorts Inc. (XHR) on Thursday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Orlando, Florida, said it had funds from operations of $71.9 million, or 66 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 65 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 $28.8 million, or 26 cents per share.
The real estate investment trust that owns hotels, based in Orlando, Florida, posted revenue of $277.1 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $272.1 million.
Xenia Hotels & Resorts expects full-year funds from operations in the range of $2.12 to $2.21 per share.
The company’s shares have increased 14 percent since the beginning of the year. The stock has climbed 20 percent in the last 12 months.