Host Hotels: Q4 Earnings Snapshot

BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — Host Hotels & Resorts Inc. (HST) on Wednesday reported a key measure of profitability in its fourth quarter. The results matched Wall Street expectations.

The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $311 million, or 44 cents per share, in the period.

The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 44 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 $132 million, or 19 cents per share.

The lodging real estate investment trust, based in Bethesda, Maryland, posted revenue of $1.32 billion in the period, which beat Street forecasts. Ten analysts surveyed by Zacks expected $1.3 billion.

For the year, the company reported funds from operations of $1.37 billion. Revenue was reported as $5.31 billion.

Host Hotels expects full-year funds from operations in the range of $1.92 to $2.04 per share.


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