BETHESDA, Md. (AP) _ RLJ Lodging Trust (RLJ) 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 exceeded Wall Street expectations.
The real estate investment trust, based in Bethesda, Maryland, said it had a funds from operations loss of $45.6 million, or 28 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for a funds from operations loss of 29 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.