Hersha Hospitality Trust Q4 FFO Rises - Quick Facts

(RTTNews) - Hersha Hospitality Trust (HT) Tuesday said fourth-quarter funds from operations, or FFO improved to $20.94 million from $19.84 million last year.

Adjusted FFO for the quarter was $24.57 million or $0.12 per share. On average, 14 analysts polled by Thomson Reuters expected the company to report FFO of $0.11 per share for the quarter. Analysts' estimates typically exclude special items.

Net income for the quarter jumped to $37.24 million or $0.16 per share from $6.85 million or $0.02 per share last year.

Revenues totaled $92.10 million, up from $82.29 million last year. Analysts expected revenues of $97.02 million.

Looking ahead, the company currently projects full-year RevPAR growth in the order of 5.0 percent to 7.0 percent.