DiamondRock Hospitality: Q2 Earnings Snapshot

BETHESDA, Md. (AP) _ DiamondRock Hospitality Co. (DRH) on Thursday reported a key measure of profitability in its second quarter, after reporting a loss in the same period a year earlier. The results surpassed Wall Street expectations.

The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $11.1 million, or 5 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 3 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 $21.5 million, or 10 cents per share.

The hotel and resort real estate investment trust posted revenue of $124.8 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $108.4 million.

The company’s shares have climbed slightly more than 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.61, a rise of 79% 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 DRH at https://www.zacks.com/ap/DRH

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