BETHESDA, Md. (AP) _ Host Hotels & Resorts Inc. (HST) on Thursday reported a loss in funds from operations in its fourth quarter, after reporting a profit in the same period a year earlier. The results topped Wall Street expectations.
The Bethesda, Maryland-based real estate investment trust said it had a funds from operations loss of $17 million, or 2 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for a funds from operations loss of 21 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 $64 million, or 9 cents per share.
The lodging real estate investment trust posted revenue of $267 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $236.4 million.
For the year, the company reported funds from operations losses of $119 million, swinging to a loss in the period. Revenue was reported as $1.62 billion.
The company’s shares have climbed roughly 10% since the beginning of the year, while the Standard & Poor’s 500 index has risen 4%. In the final minutes of trading on Thursday, shares hit $16.03, a fall of nearly 5% in the last 12 months.
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