NEWTON, Mass. (AP) — NEWTON, Mass. (AP) — Service Properties Trust (SVC) on Wednesday reported a key measure of profitability in its first quarter.
The real estate investment trust, based in Newton, Massachusetts, said it had funds from operations of $7.4 million, or 4 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 $151.2 million, or 91 cents per share.
The real estate investment trust, based in Newton, Massachusetts, posted revenue of $364.5 million in the period.
Service Properties expects full-year funds from operations in the range of 24 cents to 27 cents per share.
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