Pebblebrook Hotel Trust Q2 FFO Rises - Quick Facts

(RTTNews) - Pebblebrook Hotel Trust (PEB) Thursday reported second-quarter funds from operations, or FFO, of $30.60 million, up from $22.42 million in the same period last year.

FFO available to common share and unit holders increased to $24.50 million or $0.40 per share from $17.97 million or $0.33 per share last year. Adjusted FFO for the quarter was $26.4 million or $0.43 per share. On average, seven analysts polled by Thomson Reuters expected the company to earn $0.41 per share for the quarter. Analysts' estimates typically exclude special items.

Profit for the quarter totaled $8.7 million or $0.14 per share, up from $5.4 million or $0.10 per share in the comparable quarter last year.

Revenues increased to $126.30 million from $94.17 million last year. Analysts expected revenues of $129.06 million.

Same-Property RevPAR for the quarter was $195.42 million, up from $184.29 million last year.

Looking ahead to the third quarter, the company has forecast adjusted FFO in the range of $0.41 $0.43 per share. Analysts currently expect third-quarter FFO of $0.46 per share.

RevPAR growth is projected in a range of 5.0 percent to 6.0 percent.

For the fiscal 2013, the company currently expects adjsuted FFO in a range of $1.40 $1.44 per share. Analysts curerntly expect full-year FFO of $1.45 per share.

Earnings is targeted in the order of $0.65 to $0.68 per share, with Same-Property RevPAR growth rate ranging between 5.5 percent and 7.0 percent.