LaSalle Hotel Properties Q3 FFO Rises

(RTTNews) - LaSalle Hotel Properties (LHO) Wednesday reported third-quarter funds from operations of $87.6 million or $0.84 per unit, up from $69.3 million or $0.72 per unit last year.

Adjusted FFO rose to $0.85 per unit from $0.76 per unit last year.

Net income for the quarter were $98.2 million or $0.94 per unit, up from $28.5 million or $0.30 per unit last year.

Total revenues grew 14.1 percent to $308.0 million from $270.0 million last year.

Analysts polled by Thomson Reuters expected FFO of $0.79 per share on revenue of $298.4 million for the quarter. Analysts' estimates typically exclude special items.

For the fourth-quarter, the company expects adjusted FFO of $0.57 to $0.61 per unit.

For the full year 2014, the company now expects adjusted FFO of $2.56 to $2.60 per unit, up from prior outlook of $2.44 to $2.54 unit.

Analysts currently expect FFO of $0.58 and $2.51 for the fourth quarter and full year 2014, respectively.