RLJ Lodging: Q2 Earnings Snapshot

BETHESDA, Md. (AP) _ RLJ Lodging Trust (RLJ) 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 topped Wall Street expectations.

The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $11.3 million, or 7 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was less than 1 cent on a per-share basis for funds from operations.

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 $57.7 million, or 35 cents per share.

The hotel real estate investment trust posted revenue of $194.3 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $188.7 million.

The company’s shares have increased almost 2% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.38, an increase of 70% 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 RLJ at https://www.zacks.com/ap/RLJ

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