Pebblebrook Hotel Trust Q3 FFO Rises

(RTTNews) - Pebblebrook Hotel Trust (PEB), a real estate investment trust, Thursday reported third-quarter funds from operations of $43.6 million or $0.66 per share, up from $27.4 million or $0.44 per share last year.

Adjusted FFO for the quarter was $0.68 per share, up from $0.46 per share last year.

Net income for the quarter was $23.7 million or $0.36 per share, up from $11.3 million or $0.18 per share last year.

Total revenues for the quarter rose to $169.7 million from $131.2 million last year.

Analysts polled by Thomson Reuters projected FFO of $0.63 per share on revenues of $166.8 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2014, the company now expects adjusted FFO of $1.87 to $1.90 per share and earnings of $0.63 to $0.66 per share. Analysts currently estimate FFO of $1.93 per share.

Earlier, the company expected adjusted FFO of $1.87 to $1.93 per share for the full year.

For the fourth quarter, the company expects adjusted FFO of $0.38 to $0.41 per share. Analysts currently estimate FFO of $0.48 per share for the quarter.