BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — Pebblebrook Hotel Trust (PEB) on Wednesday reported a key measure of profitability in its fourth quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $31.1 million, or 27 cents per share, in the period.
The average estimate of five analysts surveyed by Zacks Investment Research was for funds from operations of 23 cents per share.
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 $26.2 million, or 23 cents per share.
The hotel investment company, based in Bethesda, Maryland, posted revenue of $349 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $349.2 million.
For the year, the company reported funds from operations of $187.4 million. Revenue was reported as $1.48 billion.
Pebblebrook Hotel expects full-year funds from operations in the range of $1.50 to $1.62 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEB at https://www.zacks.com/ap/PEB