ORLANDO, Fla. (AP) _ Xenia Hotels & Resorts Inc. (XHR) on Friday reported a loss in a key measure in its third quarter. The results exceeded Wall Street expectations.
The real estate investment trust, based in Orlando, Florida, said it had a funds from operations loss of $30.6 million, or 27 cents per share, in the period.
The average estimate of four analysts surveyed by Zacks Investment Research was for a funds from operations loss of 31 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 a loss of $52.3 million, or 46 cents per share.
The real estate investment trust that owns hotels, based in Orlando, Florida, posted revenue of $64 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $65.2 million.
The company's shares have dropped 60% since the beginning of the year. The stock has fallen 58% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on XHR at https://www.zacks.com/ap/XHR