Summit Hotel Properties: Q3 Earnings Snapshot

AUSTIN, Texas (AP) _ Summit Hotel Properties Inc. (INN) on Wednesday reported a key measure of profitability in its third quarter. The results met Wall Street expectations.

The Austin, Texas-based real estate investment trust said it had funds from operations of $30.9 million, or 25 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 25 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 a loss of $517,000, or less than 1 cent on a per-share basis.

The real estate investment trust specializing in higher end hotels posted revenue of $178.3 million in the period.

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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 INN at https://www.zacks.com/ap/INN