Ashford Hospitality Trust: Q1 Earnings Snapshot
DALLAS (AP) _ Ashford Hospitality Trust Inc. (AHT) on Tuesday reported a loss in a key measure in its first quarter. The results beat Wall Street expectations.
The Dallas-based real estate investment trust said it had a funds from operations loss of $29.7 million, or 30 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 75 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 $91.6 million, or $1.10 per share.
The hotel owner posted revenue of $115.8 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $114.5 million.