Braemar Hotels & Resorts: Q4 Earnings Snapshot

DALLAS (AP) — DALLAS (AP) — Braemar Hotels & Resorts, Inc. (BHR) on Thursday reported a key measure of profitability in its fourth quarter. The results met Wall Street expectations.

The real estate investment trust, based in Dallas, said it had funds from operations of $2.7 million, or 4 cents per share, in the period.

The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 4 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 a loss of $31.1 million, or 47 cents per share.

The hotel owner posted revenue of $177.5 million in the period, beating Street forecasts. Three analysts surveyed by Zacks expected $173.2 million.

For the year, the company reported funds from operations of $43.9 million. Revenue was reported as $739.3 million.

In the final minutes of trading on Thursday, the company's shares hit $2.28. A year ago, they were trading at $4.68.

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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 BHR at https://www.zacks.com/ap/BHR