Hersha Hospitality Trust Q2 FFO Rises

(RTTNews) - Hersha Hospitality Trust (HT) Tuesday reported second-quarter funds from operations of $28.7 million, up from $21.2 million a year ago.

Adjusted FFO rose to $0.17 per share from $0.13 per share last year.

Net income applicable to common shareholders was $53.3 million or $0.27 per share for the second quarter, compared to $14.3 million or $0.07 per share last year.

Total revenues for the quarter were $111.6 million, up from $90.5 million a year ago.

Analysts polled by Thomson Reuters estimated FFO of $0.16 per share on revenues of $112.8 million for the quarter. Analysts' estimates typically exclude one-time items.