BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — Host Hotels & Resorts Inc. (HST) on Wednesday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $240 million, or 35 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 33 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 $161 million, or 23 cents per share.
The lodging real estate investment trust, based in Bethesda, Maryland, posted revenue of $1.33 billion in the period, which met Street forecasts.
Host Hotels expects full-year funds from operations to be $2.03 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 HST at https://www.zacks.com/ap/HST
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