Host Hotels: Q1 Earnings Snapshot

BETHESDA, Md. (AP) _ Host Hotels & Resorts Inc. (HST) on Tuesday reported a key measure of profitability in its first quarter. The results beat Wall Street expectations.

The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $4 million, or 1 cent per share, in the period.

The average estimate of 10 analysts surveyed by Zacks Investment Research was for a funds from operations loss of 15 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 $152 million, or 22 cents per share.

The lodging real estate investment trust posted revenue of $399 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $313 million.

The company’s shares have increased 20% since the beginning of the year, while the S&P’s 500 index has climbed 11%. In the final minutes of trading on Tuesday, shares hit $17.57, a climb of 58% in the last 12 months.

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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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