BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — Host Hotels & Resorts Inc. (HST) on Wednesday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.

The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $290 million, or 41 cents per share, in the period.

The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of 35 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $111 million, or 16 cents per share.

The lodging real estate investment trust, based in Bethesda, Maryland, posted revenue of $1.21 billion in the period, which met Street forecasts.

Host Hotels expects full-year funds from operations in the range of $1.90 to $1.95 per share.

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