Tag: Snapshot

Sunstone Hotel: 3Q Earnings Snapshot

IRVINE, Calif. (AP) _ Sunstone Hotel Investors Inc. (SHO) on Thursday reported a key measure of profitability in its third quarter. The results fell short of Wall Street expectations.

The Irvine, California-based real estate investment trust said it had funds from operations of $6.4 million, or 26 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 19 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 $92.5 million, or 43 cents per share.

The hotel real estate investment trust, based in Irvine, California, posted revenue of $28.9 million in the period, also missing Street forecasts. Six analysts surveyed by Zacks expected $52.9 million.

The company’s shares have fallen 41% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $8.20, a decrease of 43% 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 SHO at https://www.zacks.com/ap/SHO

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Summit Hotel Properties: 3Q Earnings Snapshot

AUSTIN, Texas (AP) _ Summit Hotel Properties Inc. (INN) on Tuesday reported a loss in funds from operations in its third quarter, after reporting a profit in the same period a year earlier. The results topped Wall Street expectations.

The real estate investment trust, based in Austin, Texas, said it had a funds from operations loss of $10.8 million, or 10 cents per share, in the period.

The average estimate of five analysts surveyed by Zacks Investment Research was for a funds from operations loss of 13 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 $38.3 million, or 37 cents per share.

The real estate investment trust specializing in higher end hotels posted revenue of $52.4 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $52.5 million.

The company’s shares have dropped 52% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $5.97, a decline of 52% 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 INN at https://www.zacks.com/ap/INN

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Pebblebrook Hotel: 3Q Earnings Snapshot

BETHESDA, Md. (AP) _ Pebblebrook Hotel Trust (PEB) on Thursday reported a loss in funds from operations in its third quarter, after reporting a profit in the same period a year earlier. The results did not meet Wall Street expectations.

The real estate investment trust, based in Bethesda, Maryland, said it had a funds from operations loss of $66.6 million, or 51 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for a funds from operations loss of 45 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 $138.4 million, or $1.06 per share.

The hotel investment company posted revenue of $77 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $74 million.

The company’s shares have dropped 53% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.65, a decrease of 51% 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 PEB at https://www.zacks.com/ap/PEB

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