WASHINGTON (dpa-AFX) - Host Hotels & Resorts, Inc. (HST) said, for 2019, the company's forecast has been adjusted for the sale or anticipated sale of eight properties in the third quarter, which has decreased earnings per share and adjusted FFO per share by $0.02 and $0.03, respectively.
For 2019, the company now expects earnings per share in a range of $1.28 to $1.33, revised from prior guidance range of $0.82 to $0.91. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.87. Analysts' estimates typically exclude special items. The company now projects adjusted FFO per share in a range of $1.73 to $1.78, updated from prior guidance range of $1.76 to $1.84.
For the second-quarter, earnings per common share increased 39.3 percent to $0.39 from $0.28, prior year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.31, for the quarter. NAREIT FFO and adjusted FFO per share was $0.53 compared to $0.54.
Second-quarter revenues declined 2.3 percent year-on-year to $1.48 billion. Analysts expected revenue of $1.5 billion, for the quarter.
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