TYSONS, Va. (AP) — TYSONS, Va. (AP) — Park Hotels & Resorts Inc. (PK) on Tuesday reported a key measure of profitability in its third quarter. The results matched Wall Street expectations.
The Tysons, Virginia-based real estate investment trust said it had funds from operations of $102 million, or 49 cents per share, in the period.
The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 49 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 $54 million, or 26 cents per share.
Park Hotels & Resorts, based in Tysons, Virginia, posted revenue of $649 million in the period, missing Street forecasts. Seven analysts surveyed by Zacks expected $655 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PK at https://www.zacks.com/ap/PK