Pebblebrook Hotel Trust reports Q3 funds from operations of $71.6 million
Bethesda-based Pebblebrook Hotel Trust posted $71.6 million in funds from operations in Q3, with revenue of $402.7 million.
Pebblebrook Hotel Trust, a real estate investment trust based in Bethesda, Maryland, reported funds from operations of $71.6 million, or 63 cents per share, for its third quarter, according to WTOP.
This key profitability measure exceeded the average analyst estimate of 54 cents per share surveyed by Zacks Investment Research. Funds from operations are calculated by adding back items such as depreciation and amortization to net income and are closely watched in the REIT industry.
Despite this, Pebblebrook reported a net loss of $63.1 million, or 56 cents per share, during the quarter. The company posted revenue of $402.7 million, slightly below the $402.9 million expected by analysts.
Pebblebrook Hotel Trust expects its full-year funds from operations to be in the range of $1.88 to $1.92 per share, as stated in the report. The company is headquartered in Bethesda, making this report directly relevant to the Washington DC area.
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