DALLAS (AP) — DALLAS (AP) — Braemar Hotels & Resorts, Inc. (BHR) on Thursday reported a loss in a key measure in its fourth quarter.
The real estate investment trust, based in Dallas, said it had a funds from operations loss of $1.5 million, or 2 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 $46 million, or 67 cents per share.
The hotel owner posted revenue of $165.6 million in the period.
For the year, the company reported funds from operations of $20.3 million, swinging to a profit in the period. Revenue was reported as $704 million.
In the final minutes of trading on Thursday, the company’s shares hit $3.07. A year ago, they were trading at $2.59.
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