Park Hotels & Resorts: Q2 Earnings Snapshot
By AP News
Published - Aug 01, 2024, 02:03 AM ET
Last Updated - Aug 01, 2024, 02:03 AM EDT
TYSONS, Va. (AP) — TYSONS, Va. (AP) — Park Hotels & Resorts Inc. (PK) on Wednesday reported a key measure of profitability in its second quarter. The results topped Wall Street expectations.
The real estate investment trust, based in Tysons, Virginia, said it had funds from operations of $137 million, or 65 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 63 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.
