Pebblebrook Hotel: Q3 Earnings Snapshot

BETHESDA, Md. (AP) _ Pebblebrook Hotel Trust (PEB) on Thursday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.

The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $86.7 million, or 66 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 64 cents per share.

Funds from operations is...

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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 beat Wall Street expectations.

The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $86.7 million, or 66 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 64 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 $13.7 million, or 10 cents per share.

The hotel investment company, based in Bethesda, Maryland, posted revenue of $416.7 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $401.9 million.

For the current quarter ending in December, Pebblebrook Hotel expects its per-share funds from operations to range from 18 cents to 24 cents.

The company expects full-year funds from operations in the range of $1.66 to $1.72 per share.

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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 PEB at https://www.zacks.com/ap/PEB

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