Host Hotels & Resorts Inc. reported Nareit and adjusted funds from operations for the second quarter of 54 cents per share, up 10.2% from 49 cents per share in the same period in 2017.
On an aggregate basis, Nareit FFO rose to $402 million in the second quarter from $363 million a year earlier, and AFFO rose to $402 million from $364 million in the comparable 2017 quarter.
Nareit is the U.S.-based trade association for real estate investment trusts and publicly traded real estate companies.
The S&P Global Market Intelligence consensus FFO-per-share estimate for the quarter was 51 cents.
Second-quarter total revenues increased to $1.52 billion from $1.44 billion a year earlier.
In reporting results, Host Hotels said it forecasts 2018 Nareit FFO and AFFO in the range of $1.71 to $1.76 per share, up from a prior guidance range of $1.67 to $1.73 per share.
For the full year, the S&P Global Market Intelligence consensus FFO-per-share estimate is $1.72.
During the second quarter, the hotel real estate investment trust closed the sale of the W New York hotel for $190 million, reducing its exposure in the New York market. The W New York – Union Square in New York City is under contract for sale for $171 million, including $3 million of furniture, fixtures and equipment funds, and is slated to close in the third quarter. A third asset is under contract for sale and is set to close later in 2018.