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BETHESDA, Md. (AP) _ Pebblebrook Hotel Trust (PEB) on Tuesday reported a key measure of profitability in its first quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $14 million, or 11 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations 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 $110.9 million, or 85 cents per share.
The hotel investment company, based in Bethesda, Maryland, posted revenue of $258.1 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $244.3 million.
For the current quarter ending in July, Pebblebrook Hotel expects its per-share funds from operations to range from 56 cents to 63 cents.
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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