BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — Pebblebrook Hotel Trust (PEB) on Tuesday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $25 million, or 21 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 16 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 $39 million, or 32 cents per share.
The hotel investment company, based in Bethesda, Maryland, posted revenue of $314.1 million in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $306.2 million.
For the current quarter ending in June, Pebblebrook Hotel expects its per-share funds from operations to range from 59 cents to 63 cents.
The company expects full-year funds from operations in the range of $1.49 to $1.61 per share.
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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 PEB at https://www.zacks.com/ap/PEB