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DALLAS (AP) — DALLAS (AP) — Ashford Hospitality Trust Inc. (AHT) on Tuesday reported a key measure of profitability in its fourth quarter, after reporting a loss in the same period a year earlier. The results beat Wall Street expectations.
The Dallas-based real estate investment trust said it had funds from operations of $5.7 million, or 16 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was less than 1 cent on a per-share basis for funds from operations.
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 $60.2 million, or $1.75 per share.
The hotel owner posted revenue of $317.5 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $301.5 million.
For the year, the company reported funds from operations of $67.3 million, or $1.85 per share, swinging to a profit in the period. Revenue was reported as $1.24 billion.
The company's shares have increased 27% since the beginning of the year.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a AHT">Zacks stock report on AHT at https://www.zacks.com/ap/AHT