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.