BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — Pebblebrook Hotel Trust (PEB) on Wednesday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $31.1 million, or 27 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 23 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 $26.2 million, or 23 cents per share.
The hotel investment company, based in Bethesda, Maryland, posted revenue of $349 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $349.2 million.
Pebblebrook Hotel expects full-year funds from operations in the range of $1.50 to $1.62 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
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