AP NEWS

Service Properties: 3Q Earnings Snapshot

November 8, 2019

NEWTON, Mass. (AP) _ Service Properties Trust (SVC) on Friday reported a key measure of profitability in its third quarter. The results fell short of Wall Street expectations.

The Newton, Massachusetts-based real estate investment trust said it had funds from operations of $155.6 million, or 95 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 96 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 $40.1 million, or 24 cents per share.

The real estate investment trust posted revenue of $599.8 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $590.1 million.

The company’s shares have risen 5% since the beginning of the year.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SVC at https://www.zacks.com/ap/SVC