LaSalle Hotel Properties: 3Q Earnings Snapshot
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BETHESDA, Md. (AP) _ LaSalle Hotel Properties (LHO) on Thursday 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 $81.4 million, or 74 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 69 cents per share.
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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 $87.4 million, or 79 cents per share.
The real estate investment trust posted revenue of $298 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $290.7 million.
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The company's shares have risen 19 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.33, an increase of 18 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. Access a Zacks stock report on LHO at https://www.zacks.com/ap/LHO