Host Hotels: Q4 Earnings Snapshot
BETHESDA, Md. (AP) _ Host Hotels & Resorts Inc. (HST) on Wednesday reported a key measure of profitability in its fourth quarter, after reporting a loss in the same period a year earlier. The results topped Wall Street expectations.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $204 million, or 29 cents per share, in the period.
The average estimate of nine analysts surveyed by Zacks Investment Research was for funds from operations of 16 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 $320 million, or 45 cents per share.
The lodging real estate investment trust posted revenue of $998 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $899.6 million.
For the year, the company reported funds from operations of $437 million, swinging to a profit in the period. Revenue was reported as $2.89 billion.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HST at https://www.zacks.com/ap/HST