Host Hotels' (HST) Q3 FFO In Line, Revenues Miss Estimates
Zacks Investment Research | Nov 01, 2017 10:10PM ET
Host Hotels & Resorts, Inc. (NYSE:HST) reported third-quarter 2017 adjusted funds from operations (FFO) of 33 cents per share, which came in line with the Zacks Consensus Estimate. However, the adjusted FFO per share fell 10.8% from the year-ago tally.
Results reflect the difficult year-over-year comparisons in Brazil, holiday shift, the impact of the hurricanes, as well as revenue loss from disposition of hotels.
The company posted total revenues of $1.25 billion which missed the Zacks Consensus Estimate of $1.27 billion. The figure was also down 3.2% from the prior-year number, as a result of revenue loss from the sale of 14 hotels in 2016 and 2017. Also, Hurricanes Harvey and Irma adversely affected total revenues in the quarter.
Host Hotels & Resorts, Inc. Price, Consensus and EPS Surprise
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