S&P 500 (NYSE:SPY) component Host Hotels & Resorts, Inc. (NYSE:HST) reported its results for the second quarter. Host Hotels & Resorts Inc. is a self-managed and self-administered hospitality real estate investment trust.
Host Hotels & Resorts Earnings Cheat Sheet for the Second Quarter
Results: Net income rose more than threefold to $62 million or 9 cents per share.
Funds from Operations: The company’s funds from operations (FFO) rose 30.4% from the year earlier quarter to 30 cents. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings. It come in ahead of the consensus estimate of 29 cents per share. FFO, a measure of performance of a real estate investment trust (REIT), removes the profit-reducing effect that depreciation has on earnings.
Competitors to Watch: Ashford Hospitality Trust, Inc. (NYSE:AHT), MHI Hospitality Corp. (NASDAQ:MDH), Vornado Realty Trust (NYSE:VNO), American Assets Trust, Inc (NYSE:AAT), Boston Properties, Inc. (NYSE:BXP), Federal Realty Inv. Trust (NYSE:FRT), LaSalle Hotel Properties (NYSE:LHO), Strategic Hotels & Resorts Inc. (NYSE:BEE), DiamondRock Hospitality Co. (NYSE:DRH), and Chatham Lodging Trust (NYSE:CLDT).
(Source: Xignite Financials)