Hotel real estate investment trust Hersha Hospitality Trust provided its first-quarter and full-year 2018 guidance ranges for adjusted funds from operations of a loss of 3 cents to a loss of 1 cent per share and $1.89 to $2.07 per share, respectively.
The S&P Capital IQ consensus AFFO-per-share estimate for the full year is $1.79.
In the 2017 fourth quarter, Hersha repurchased approximately 1.7 million common shares for an aggregate price of $30.4 million. Also in the fourth quarter, Hersha’s board of trustees approved a new share repurchase program of up to $100 million of the company’s outstanding stock. The new repurchase program expires Dec. 31, 2018, unless extended by the board.