DALLAS (AP) — DALLAS (AP) — Braemar Hotels & Resorts, Inc. (BHR) on Wednesday reported a loss in a key measure in its third quarter.
The real estate investment trust, based in Dallas, said it had a funds from operations loss of $17.6 million, or 24 cents per share, in the period.
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 $1.4 million, or 2 cents per share.
The hotel owner posted revenue of $148.4 million in the period.
In the final minutes of trading on Wednesday, the company’s shares hit $2.95. A year ago, they were trading at $2.68.
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