Hersha Hospitality: Q3 Earnings Snapshot

HARRISBURG, Pa. (AP) _ Hersha Hospitality Trust (HT) on Wednesday reported a key measure of profitability in its third quarter. The results missed Wall Street expectations.

The Harrisburg, Pennsylvania-based real estate investment trust said it had funds from operations of $15 million, or 33 cents per share, in the period.

The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from operations of 38 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $115.5 million, or $2.82 per share.

The hotel real estate investment trust, based in Harrisburg, Pennsylvania, posted revenue of $104.2 million in the period, surpassing Street forecasts. Six analysts surveyed by Zacks expected $99.8 million.

For the current quarter ending in December, Hersha Hospitality expects its per-share funds from operations to range from 32 cents to 39 cents.

The company expects full-year funds from operations in the range of $1.27 to $1.34 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a HT">Zacks stock report on HT at https://www.zacks.com/ap/HT