RLJ Lodging: 4Q Earnings Snapshot
BETHESDA, Md. (AP) _ RLJ Lodging Trust (RLJ) on Thursday reported a loss in funds from operations in its fourth quarter, after reporting a profit in the same period a year earlier. The results exceeded Wall Street expectations.
The real estate investment trust, based in Bethesda, Maryland, said it had a funds from operations loss of $45.6 million, or 28 cents per share, in the period.
The average estimate of seven analysts surveyed by Zacks Investment Research was for a funds from operations loss of 29 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 $93.2 million, or 57 cents per share.
The hotel real estate investment trust posted revenue of $91.1 million in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $97.7 million.
For the year, the company reported funds from operations losses of $161.4 million, swinging to a loss in the period. Revenue was reported as $473.1 million.
The company's shares have risen roughly 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $15.12, an increase of 3% in the last 12 months.
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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
