Hotel REITs Report First-Quarter Stronger-Than-Expected Results
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Bethesda, Md. — RLJ Lodging Trust on Monday reported first-quarter funds from operations of $49.5 million, or $0.33 per share, surpassing the Zacks Investment Research average estimate of $0.27 per share from four analysts. The Bethesda-based hotel real estate investment trust posted revenue of $340 million for the period, topping Street forecasts of $319.1 million based on three analysts, and reported a net loss of $6.4 million, or $0.05 per share. Bethesda, Md. — Funds from operations is a closely watched measure in the REIT industry; it adjusts net income by adding back items such as depreciation and amortization to gauge operating performance. RLJ said it expects full-year funds from operations in a range of $1.29 to $1.45 per share. This story was generated by Automated Insights using data from Zacks Investment Research.
Prepared by Christopher Adams and reviewed by editorial team.
Timeline of Events
- RLJ Lodging Trust prepared and released its Q1 earnings snapshot (reported on Monday).
- Zacks Investment Research consensus estimated RLJ FFO at $0.27 per share (four analysts).
- Sunstone Hotel Investors released its Q1 earnings snapshot (reported on Tuesday) showing FFO and net income.
- Both companies published full-year FFO guidance ranges following their quarterly disclosures.
- AP/Automated Insights distributed standardized earnings summaries to multiple news outlets for public dissemination.
Why This Matters to You
If you're an investor, these results could impact your portfolio. RLJ Lodging Trust's higher-than-expected earnings show strength in the hotel industry. Check your investments and consider if hotel REITs fit your strategy.
The Bottom Line
RLJ Lodging Trust is performing well, beating estimates and showing resilience in a tough market. This could signal a positive trend for hotel REITs. Worth forwarding if you know someone considering real estate investments.
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Shareholders of RLJ Lodging Trust and Sunstone Hotel Investors received quarterly reports showing funds from operations that exceeded analyst estimates, a factual outcome that can influence investor assessments of the companies' operating performance.
RLJ Lodging Trust recorded a net loss of $6.4 million in the quarter, representing a documented quarterly loss despite reporting funds from operations that beat analyst estimates.
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