DALLAS (AP) — DALLAS (AP) — Ashford Hospitality Trust Inc. (AHT) on Wednesday reported a key measure of profitability in its second quarter, after reporting a loss in the same period a year earlier.
The Dallas-based real estate investment trust said it had funds from operations of $17.4 million, or $2.67 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 net income of $120.7 million, or $1.62 per share.
The hotel owner posted revenue of $273.2 million in the period.
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