LaSalle Hotel Properties Q3 FFO Rises - Quick Facts

(RTTNews) - LaSalle Hotel Properties (LHO) Wednesday said third-quarter funds from operations, or FFO, increased to $69.3 million or $0.72 per share from $58.1 million or $0.67 per share in the same period last year.

Adjusted FFO for the quarter was $72.8 million or $0.76 per share. On average, 16 analysts polled by Thomson Reuters expected the company to report FFO of $0.68 per share for the quarter. Analysts' estimates typically exclude special items.

Net income attributable to common shareholders totaled $28.5 million or $0.30 per share, compared to $26.5 million or $0.31 per share last year.

Revenues increased to $270.0 million from $237.0 million last year. Analysts expected revenues of $256.72 million.

RevPAR totaled $187.32, up 3.8 percent from $180.42 million last year. RevPAR excluding Park Central Hotel was $186.48.

Looking ahead to the fourth-quarter, the company has forecast adjusted FFO in a range of $0.52 to $0.56 per share. Analysts currently expect fourth-quarter FFO of $0.56 per share.

For the fiscal 2013, the company currently projects adjusted FFO in a range of $2.28 to $2.31 per share, up from its previous guidance of $2.13 to $2.23 per share. Analysts currently expect full-year FFO of $2.24 per share.