Ashford Hospitality Trust: 2Q Earnings Snapshot
DALLAS (AP) _ Ashford Hospitality Trust Inc. (AHT) on Thursday reported a key measure of profitability in its second quarter. The results fell short of Wall Street expectations.
The real estate investment trust, based in Dallas, said it had funds from operations of $48.8 million, or 42 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 54 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 $29 million, or 30 cents per share.
The hotel owner posted revenue of $389.2 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $390.2 million.
The company’s shares have increased 18 percent since the beginning of the year.