Hersha Hospitality Trust (HT) Tops Q3 FFO by 3c
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Hersha Hospitality Trust (NYSE: HT) reported Q3 FFO of $0.72, $0.03 better than the analyst estimate of $0.69.
Based on year-to-date performance through September 30, 2016, the Company is reaffirming its Comparable Property RevPAR Growth, Adjusted EBITDA, Adjusted FFO and Adjusted FFO per share guidance, while adjusting Net Income, Net Income per share and Comparable Property EBITDA Margin Growth outlooks. The adjustment to Net Income and Net Income per Share is primarily a result of the allocation of residual income in the Cindat joint venture, and the timing of the Company’s fourth quarter dispositions, while the change to Comparable Property EBITDA Margin Growth is related to renovations in connection with restaurant re-concepting at two hotels. Based on management’s current outlook and assumptions, the Company’s full-year 2016 operating expectations are as follows:
|Previous 2016 Outlook||Updated 2016 Outlook|
|($’s in millions except per share amounts)||Low||High||Low||High|
|Net Income per share||$2.27||$2.41||$2.16||$2.25|
|Comparable Property RevPAR Growth||2.5%||3.5%||2.5%||3.5%|
|Comparable Property EBITDA Margin Growth||40 bps||60 bps||0 bps||40 bps|
|Adjusted FFO per share||$2.38||$2.51||$2.38||$2.51|
For earnings history and earnings-related data on Hersha Hospitality Trust (HT) click here.
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