Hersha Hospitality Trust (HT: Quote) reported fourth-quarter net loss applicable to common shareholders of $2.8 million or $0.02 per share, narrower than $8.8 million or $0.05 per share in the prior year period.
Funds from Operations or FFO applicable to common shares and Partnership units for the quarter was $11.9 million, compared to $8.3 million in the same quarter last year.
Adjusted FFO for the quarter rose to $16.49 million or $0.09 per share from $11.89 million or $0.07 per share in the prior year quarter.
On average, nine analysts polled by Thomson Reuters expected earnings of $0.09 per share for the quarter. Analysts' estimates typically exclude one-time items.
Total revenues for the quarter was $76.39 million, compared to $65.71 million in the comparable quarter last year, while eight analysts estimated revenues of $79.88 million for the quarter.
by RTT Staff Writer
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