RICHMOND, Va. (AP) _ Apple Hospitality REIT Inc. (APLE) on Monday reported a pivotal magnitude of profitability in a fourth quarter. The formula missed Wall Street expectations.
The Richmond, Virginia-based genuine estate investment trust pronounced it had supports from operations of $70.6 million, or 32 cents per share, in a period.
The normal guess of 4 analysts surveyed by Zacks Investment Research was for supports from operations of 33 cents per share.
Funds from operations is a closely watched magnitude in a REIT industry. It takes net income and adds behind equipment such as debasement and amortization.
The association pronounced it had net income of $25.5 million, or 11 cents per share.
The hotel-owning genuine estate investment trust posted income of $290 million in a period, commanding Street forecasts. Four analysts surveyed by Zacks approaching $288.4 million.
For a year, a association reported supports from operations of $365.9 million, or $1.63 per share. Revenue was scarcely unvaried during $1.27 billion.
The company’s shares have forsaken 11% given a commencement of a year. In a final mins of trade on Monday, shares strike $14.48, a dump of 14% in a final 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) regulating information from Zacks Investment Research. Access a Zacks batch news on APLE during https://www.zacks.com/ap/APLE