Xenia Hotels & Resorts: 4Q Earnings Snapshot
ORLANDO, Fla. (AP) _ Xenia Hotels & Resorts Inc. (XHR) on Monday reported a loss in a key measure in its fourth quarter. The results beat Wall Street expectations.
The real estate investment trust, based in Orlando, Florida, said it had a funds from operations loss of $27.8 million, or 24 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for a funds from operations loss of 28 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 net income of $24.3 million, or 22 cents per share.
The real estate investment trust that owns hotels, based in Orlando, Florida, posted revenue of $75.6 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $71.6 million.
For the year, the company reported funds from operations of $94 million. Revenue was reported as $369.8 million.
The company’s shares have climbed 31% since the beginning of the year. The stock has increased 27% in the last 12 months.