DALLAS (AP) — DALLAS (AP) — Braemar Hotels & Resorts, Inc. (BHR) on Thursday reported a key measure of profitability in its second quarter.
The Dallas-based real estate investment trust said it had funds from operations of $6.9 million, or 9 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 $16 million, or 24 cents per share.
The hotel owner, based in Dallas, posted revenue of $179.1 million in the period.
In the final minutes of trading on Thursday, the company’s shares hit $2.20. A year ago, they were trading at $3.55.
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