DALLAS (AP) — DALLAS (AP) — Braemar Hotels & Resorts, Inc. (BHR) on Wednesday reported a key measure of profitability in its second quarter.

The real estate investment trust, based in Dallas, said it had funds from operations of $9.6 million, or 13 cents per share, in the period.

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 a loss of $711,000, or 1 cent per share.

The hotel owner posted revenue of $171 million in the period.

In the final minutes of trading on Wednesday, the company's shares hit $2.05. A year ago, they were trading at $2.14.

_____

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