DALLAS (AP) — DALLAS (AP) — Braemar Hotels & Resorts, Inc. (BHR) on Tuesday reported a loss in a key measure in its third quarter.
The Dallas-based real estate investment trust said it had a funds from operations loss of $14.2 million, or 19 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 $8.2 million, or 12 cents per share.
The hotel owner posted revenue of $143.6 million in the period.
In the final minutes of trading on Tuesday, the company’s shares hit $2.50. A year ago, they were trading at $2.84.
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