ORLANDO, Fla. (AP) — ORLANDO, Fla. (AP) — Xenia Hotels & Resorts Inc. (XHR) on Wednesday reported a key measure of profitability in its third quarter. The results missed Wall Street expectations.
The real estate investment trust, based in Orlando, Florida, said it had funds from operations of $26.1 million, or 25 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 29 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 a loss of $7.1 million, or 7 cents per share.
The real estate investment trust that owns hotels, based in Orlando, Florida, posted revenue of $236.8 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $239.2 million.
Xenia Hotels & Resorts expects full-year funds from operations in the range of $1.54 to $1.62 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 XHR at https://www.zacks.com/ap/XHR
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
