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Hospitality Properites: 2Q Earnings Snapshot

August 9, 2019

NEWTON, Mass. (AP) _ Hospitality Properites Trust (HPT) on Friday reported a key measure of profitability in its second quarter. The results surpassed Wall Street expectations.

The Newton, Massachusetts-based real estate investment trust said it had funds from operations of $168.8 million, or $1.03 per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of $1.01 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 $8.8 million, or 5 cents per share.

The real estate investment trust posted revenue of $610.6 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $606.7 million.

The company’s shares have increased 1.5% since the beginning of the year.

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

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