DALLAS (AP) _ Braemar Hotels & Resorts, Inc. (BHR) announced a key profitability metric for the second quarter on Thursday after posting a loss in the same period last year.
The Dallas-based Real Estate Investment Trust announced that it had operating funds of $ 12.9 million, or 20 cents per share, for the period.
Funds from Operations is a highly observed measure in the REIT industry. It takes the net profit and adds items like depreciation and amortization.
The company reported a loss of $ 15.5 million, or 32 cents per share.
The hotel owner had sales of $ 97.1 million for the period.
The company’s stock is up 14% since the start of the year. The stock has more than doubled in the last 12 months.
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