Pebblebrook Hotel: 4Q Earnings Snapshot

BETHESDA, Md. (AP) _ Pebblebrook Hotel Trust (PEB) on Thursday reported a key measure of profitability in its fourth quarter, after reporting a loss in the same period a year earlier. The results beat Wall Street expectations.

The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $71.3 million, or 54 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 51 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 net income of $11.4 million, or 8 cents per share.

The hotel investment company posted revenue of $379.4 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $378.9 million.

For the year, the company reported funds from operations of $344.1 million, or $2.63 per share. Revenue was reported as $1.61 billion.

Pebblebrook Hotel expects full-year funds from operations in the range of $2.23 to $2.33 per share.

The company's shares have dropped 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $24.62, a decrease of 27% 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 PEB at https://www.zacks.com/ap/PEB