Hospitality Properties Q1 FFO Rises, Beats Street View - Quick Facts

(RTTNews) - Hospitality Properties Trust (HPT), a real estate investment trust engaged in buying and leasing hotels, Tuesday reported an increase in Funds From Operations, or FFO, for the first quarter. FFO also topped analyst' estimates.

For the three months ended March, FFO rose to $110.67 million or $0.74 per share, from $91.69 million or $0.73 per share a year earlier.

Adjusted FFO stood at $112.67 million or $0.75 per share, compared with $93.2 million or $0.74 per share in the same period last year.

On average, 6 analysts polled by Thomson-Reuters estimated the company's FFO to be $0.71 for the quarter. Analysts' estimates typically exclude one-time items.

Net earnings rose to $32.38 million or $0.22 per share, from $19.41 million or $0.15 per share a year earlier.

For the first quarter, adjusted EBITDA grew to $154.95 million from $137.48 million a year ago.

Revenue for the 3-month period rose to $394.25 million from $354.47 million a year earlier. Analysts expected revenues of $380.44 million.