BETHESDA, Md. (AP) _ DiamondRock Hospitality Co. (DRH) on Thursday reported a key measure of profitability in its third quarter, after reporting a loss in the same period a year earlier. The results matched Wall Street expectations.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $20.9 million, or 10 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 10 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 $4.2 million, or 2 cents per share.
The hotel and resort real estate investment trust posted revenue of $179.5 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $160 million.
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