BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — Host Hotels & Resorts Inc. (HST) on Wednesday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $316 million, or 44 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 43 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 $147 million, or 20 cents per share.
The lodging real estate investment trust posted revenue of $1.26 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $1.25 billion.
For the year, the company reported funds from operations of $1.29 billion, or $1.79 per share. Revenue was reported as $4.91 billion.
Host Hotels expects full-year funds from operations in the range of $1.60 to $1.83 per share.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HST at https://www.zacks.com/ap/HST
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