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Article: Equity Inns Reports Third Quarter Results
- Article from:
- PR Newswire
- Article date:
- October 21, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Revenues Double from Third Quarter 1996 FFO Per Share Increases 33 Percent
MEMPHIS, Tenn., Oct. 21 /PRNewswire/ -- Equity Inns, Inc. (NYSE: ENN), a real estate investment trust (REIT) that owns premium brand limited-service, extended-stay and all suite hotel properties throughout the U.S., today reported that funds from operations (FFO) for the third quarter of 1997 rose 83 percent to $17.1 million, compared to $9.3 million for the third quarter of 1996. Revenues more than doubled to $24.7 million from $12.3 million reported in the third quarter last year.
On a per share basis, FFO for the three-month period ended September 30, 1997 was $0.52, ...