ORLANDO, Fla. (AP) _ Xenia Hotels & Resorts Inc. (XHR) on Thursday reported a loss in a key measure in its second quarter. The results fell short of Wall Street expectations.
The real estate investment trust, based in Orlando, Florida, said it had a funds from operations loss of $53 million, or 46 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for a funds from operations loss of 35 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 $99.1 million, or 88 cents per share.
The real estate investment trust that owns hotels, based in Orlando, Florida, posted revenue of $14.8 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $24.1 million.
The company's shares have decreased 60% since the beginning of the year. The stock has decreased 60% in the last 12 months.