Hersha Hospitality Trust Q1 FFO Rises

(RTTNews) - Hersha Hospitality Trust (HT) Thursday reported first-quarter funds from operations of $8.9 million compared to $2.4 million last year.

Adjusted funds from operations rose to $11.6 million or $0.06 per share from $8.1 million or $0.04 per share last year.

Net loss for the quarter narrowed to $9.6 million or $0.05 per share from $13.1 million or $0.07 per share last year.

Total revenues rose to $80.0 million from $65.6 million a year ago last year.

Analysts polled by Thomson Reuters estimated earnings of $0.05 per share on revenues of $79.95 million for the quarter. Analysts' estimates typically exclude one-time items.