RLJ Lodging: Q1 Earnings Snapshot

BETHESDA, Md. (AP) _ RLJ Lodging Trust (RLJ) on Wednesday reported a key measure of profitability in its first quarter. The results did not meet Wall Street expectations.

The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $23.9 million, or 14 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 16 cents per share.

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BETHESDA, Md. (AP) _ RLJ Lodging Trust (RLJ) on Wednesday reported a key measure of profitability in its first quarter. The results did not meet Wall Street expectations.

The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $23.9 million, or 14 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 16 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 $21.5 million, or 13 cents per share.

The hotel real estate investment trust, based in Bethesda, Maryland, posted revenue of $242.9 million in the period, topping Street forecasts. Five analysts surveyed by Zacks expected $238.6 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 RLJ at https://www.zacks.com/ap/RLJ

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