Hersha Hospitality Results Top Estimate; Lifts FY FFO Guidance

(RTTNews) - Hersha Hospitality Trust (HT) Wednesday reported third-quarter funds from operations of $24.5 million compared with $24 million last year.

Excluding items, adjusted FFO for the quarter was $0.14 per share compared with $0.13 per share a year ago.

Analysts polled by Thomson Reuters estimated FFO of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Net earnings for the quarter were $4 million or $0.02 per share compared with a loss of $1 million or $0.01 per share a year ago.

Revenues for the quarter were $113 million compared with $90.3 million in the prior year. Analysts estimated revenues of $109.6 million.

For the full year 2014, the company now expects adjusted FFO of $0.47 to $0.49 per share, up from prior guidance of $0.46 to $0.48 per share last year.

Analysts expect FFO of $0.48 per share for the year.