Pebblebrook Hotel Trust (PEB) announced its financial outcomes for the third quarter on Thursday, reporting a net income of $33.0 million, or $0.24 per share. This marks a significant turnaround from the previous year's net loss of $68.1 million, or $0.57 per share.
During the same period, the company’s revenues increased to $404.5 million, up from $395.8 million in the corresponding quarter of the previous year.
For the quarter, the Adjusted Funds from Operations (FFO) amounted to $71.7 million, or $0.59 per share. This is a slight decrease from the previous year's Adjusted FFO of $74.1 million, or $0.61 per share.
As for the full year forecast, Pebblebrook Hotel Trust anticipates Adjusted FFO per share to range between $1.57 and $1.60, which is a revision from the earlier projection of $1.59 to $1.67 per share.
