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BETHESDA, Md. (AP) _ Pebblebrook Hotel Trust (PEB) on Thursday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $21.4 million, or 16 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations 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.
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The company said it had a loss of $44 million, or 34 cents per share.
The hotel investment company, based in Bethesda, Maryland, posted revenue of $238.8 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $230.8 million.
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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