BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — DiamondRock Hospitality Co. (DRH) on Thursday reported a key measure of profitability in its third quarter. The results met Wall Street expectations.
The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $55.7 million, or 26 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 26 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 $24 million, or 11 cents per share.
The hotel and resort real estate investment trust, based in Bethesda, Maryland, posted revenue of $285.1 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $287 million.
DiamondRock Hospitality expects full-year funds from operations in the range of 97 cents to 99 cents 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 DRH at https://www.zacks.com/ap/DRH
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