TYSONS, Va. (AP) _ Park Hotels & Resorts Inc. (PK) on Wednesday reported a key measure of profitability in its third quarter. The results surpassed Wall Street expectations.

The real estate investment trust, based in Tysons, Virginia, said it had funds from operations of $94 million, or 42 cents per share, in the period.

The average estimate of six analysts surveyed by Zacks Investment Research was for funds from operations of 40 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 $35 million, or 15 cents per share.

Park Hotels & Resorts, based in Tysons, Virginia, posted revenue of $662 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $651.6 million.

For the current quarter ending in December, Park Hotels & Resorts expects its per-share funds from operations to range from 35 cents to 43 cents.

The company expects full-year funds from operations in the range of $1.45 to $1.52 per share.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PK at https://www.zacks.com/ap/PK

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