Hospitality Properties Trust Q3 FFO Rises, Matches View - Quick Facts

(RTTNews) - Hospitality Properties Trust (HPT), Tuesday reported an increase in the third-quarter funds from operations or FFO, that matched the analysts estimates. The results also reflected an increase in revenues.

FFO for the three-month period was $98.6 million or $0.71 per share, compared with $85.4 million or $0.69 per share. Normalized FFO was $105.8 million or $0.76 per share, compared with $91.5 million or $0.74 per share.

On average, eight analysts polled by Thomson Reuters expected the company to report earnings per share of $0.76 for the quarter. Analysts' estimates typically exclude one-time items.

Net income available for common shareholders was $16.7 million or $0.12 per share, down from $29.5 million, or $0.24 per share last year. decline was due to the liquidation preference for the company's preferred shares, and loss on asset impairment. Total revenues increased to $412.2 million, up from prior year's $330.06 million. Analysts expected the company to report revenues of $392.10 million for the quarter.