Condor Hospitality Trust (CDOR) Reports Q3 EPS of $0.06
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Condor Hospitality Trust (NASDAQ: CDOR) reported Q3 EPS of $0.06, versus $0.13 reported last year. Revenue for the quarter came in at $13.5 million, versus $15.9 million reported last year.
FFO for the three months ended September 30, 2016 decreased to $1.1 million as compared to $9.8 million for the same period prior year. FFO for the nine months ended September 30, 2016 decreased to $7.8 million as compared to $12.3 million for the same period prior year. These decreases in FFO were primarily driven by a decrease in net gains on derivatives and convertible debt which decreased by $7.9 million between the third quarter periods and $1.7 million between the year-to-date periods. Adjusted Funds from Operations for the third quarter was $0.5 million as compared to $1.4 million for the same period in 2015. The decline in Adjusted Funds from Operations was primarily driven by lower revenues as a result of continued asset sales throughout 2016.
For earnings history and earnings-related data on Condor Hospitality Trust (CDOR) click here.
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