DiamondRock Hospitality: Q1 Earnings Snapshot

BETHESDA, Md. (AP) _ DiamondRock Hospitality Co. (DRH) on Thursday reported a key measure of profitability in its first quarter, after reporting a loss in the same period a year earlier. The results surpassed Wall Street expectations.

The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $30.9 million, or 14 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 7 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 net income of $7.6 million, or 4 cents per share.

The hotel and resort real estate investment trust posted revenue of $196.8 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $181.2 million.

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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

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