DALLAS (AP) _ Ashford Hospitality Trust Inc. (AHT) on Wednesday reported a loss in funds from operations in its fourth 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 $54.8 million, or $1.67 per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for a funds from operations loss of $1.54 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 $70.5 million, or $2.29 per share.
The hotel owner posted revenue of $90.3 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $94.7 million.
For the year, the company reported funds from operations losses of $316.7 million, or $17.93 per share, swinging to a loss in the period. Revenue was reported as $508.2 million.