ORLANDO, Fla. (AP) — ORLANDO, Fla. (AP) — Xenia Hotels & Resorts Inc. (XHR) on Tuesday reported a key measure of profitability in its first quarter. The results met Wall Street expectations.
The real estate investment trust, based in Orlando, Florida, said it had funds from operations of $45.2 million, or 40 cents per share, in the period.
The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 40 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 $6.3 million, or 6 cents per share.
The real estate investment trust that owns hotels, based in Orlando, Florida, posted revenue of $269 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $258 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a XHR">Zacks stock report on XHR at https://www.zacks.com/ap/XHR