Hersha Hospitality Trust Q2 FFO Shrinks - Quick Facts

(RTTNews) - Hersha Hospitality Trust (HT) Tuesday said second-quarter funds from operations, or FFO, applicable to common shares and partnership units dropped slightly to $23.22 million from $23.44 million in the comparable quarter last year.

Adjusted FFO for the quarter was $28.71 million or $0.14 per share. On average, 14 analysts polled by Thomson Reuters expected the company to report FFO of $0.15 per share. Analysts' estimates typically exclude special items.

RevPAR as of June 30, $142.13, up 3.6 percent from $137.25 last year.

Net income applicable to common shareholders improved to $14.3 million from $13.1 million last year.

Revenues totaled $106.16 million, up from $95.36 million last year. Analysts expected revenues of $110.57 million.

Looking ahead, the company continues to project full-year consolidated RevPAR growth in the order of 6.0 percent to 7.5 percent, with same-store RevPAR growth ranging between 5.5 percent and 7.0 percent.