DALLAS (AP) _ Ashford Hospitality Trust Inc. (AHT) on Wednesday reported a loss in funds from operations in its second quarter, after reporting a profit in the same period a year earlier. The results fell short of Wall Street expectations.
The Dallas-based real estate investment trust said it had a funds from operations loss of $149.5 million, or $12.32 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for a funds from operations loss of $6.89 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 $215.3 million, or $20.85 per share.
The hotel owner posted revenue of $43.1 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $68 million.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AHT at https://www.zacks.com/ap/AHT