RLJ Lodging: Q3 Earnings Snapshot

BETHESDA, Md. (AP) _ RLJ Lodging Trust (RLJ) on Wednesday 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 $64 million, or 40 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 39 cents per share.

Funds from operations is...

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BETHESDA, Md. (AP) _ RLJ Lodging Trust (RLJ) on Wednesday 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 $64 million, or 40 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 39 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 $11.3 million, or 7 cents per share.

The hotel real estate investment trust, based in Bethesda, Maryland, posted revenue of $318.1 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $314.6 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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