RLJ Lodging: Q3 Earnings Snapshot
BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — RLJ Lodging Trust (RLJ) on Wednesday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.
The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $63.1 million, or 40 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 39 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 net income of $10.2 million, or 6 cents per share.
The hotel real estate investment trust, based in Bethesda, Maryland, posted revenue of $334.4 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $328.9 million.
For the current quarter ending in December, RLJ Lodging expects its per-share funds from operations to range from 30 cents to 36 cents.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RLJ at https://www.zacks.com/ap/RLJ