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BETHESDA, Md. (AP) _ Pebblebrook Hotel Trust (PEB) on Thursday reported a loss in a key measure in its second quarter. The results fell short of Wall Street expectations.
The real estate investment trust, based in Bethesda, Maryland, said it had a funds from operations loss of $15.6 million, or 12 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for a funds from operations loss of 11 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.
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The company said it had a loss of $8.6 million, or 7 cents per share.
The hotel investment company posted revenue of $163.3 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $158.8 million.
The company’s shares have increased 21% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.78, more than doubling 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 PEB at https://www.zacks.com/ap/PEB
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