BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — RLJ Lodging Trust (RLJ) on Monday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $52.8 million, or 33 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 31 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 $334,000, or less than 1 cent on a per-share basis.
The hotel real estate investment trust, based in Bethesda, Maryland, posted revenue of $302.2 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $304.2 million.
For the year, the company reported funds from operations of $221.1 million. Revenue was reported as $1.19 billion.
For the current quarter ending in March, RLJ Lodging expects its per-share funds from operations to range from 29 cents to 33 cents.
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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