Pebblebrook Hotel Trust Q1 FFO Rises

(RTTNews) - Pebblebrook Hotel Trust (PEB), a real estate investment trust, Thursday reported first-quarter funds from operations of $24.1 million or $0.33 per share, up from $16.1 million or $0.25 per share last year.

Adjusted FFO for the quarter improved to $24.4 million or $0.34 per share, up from $16.9 million or $0.26 per share last year. Analysts polled by Thomson Reuters projected FFO of $0.30 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the quarter was $655 thousand or $0.01 per share, compared to net loss of $2.0 million or $0.03 per share.

Revenues for the quarter rose to $163.4 million from $125.7 million last year. Analysts estimated revenues of $157.62 million for the quarter.