HERSHA HOSPITALITY TRUST HT Income Statement

Hersha hospitality trust (HT)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Revenue:
Hotel Operating Revenues:
Hotel Operating Revenues
-	-	-	-	-	-	-	-	-	-	-	-	-	-	120,515	127,629	106,847	-	124,488	127,000	95,688	112,895	112,927	111,487	79,917	92,045	90,251	90,526	65,242	60,264	79,102	94,785	64,854	22,301	80,053	77,669	49,133	67,992	74,453
Interest Income from Development Loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	12	146	396	463	518	621	617	656	1,063	1,091	1,049	1,176
Other Revenues
199	78	76	-12	150	1,036	147	78	124	-16	79	988	46	50	92	94	23	32	27	30	24	31	50	66	33	-95	80	1	205	48	50	52	62	118	87	85	40	79	111
Total Revenues
90,137	132,671	134,995	147,501	114,793	133,708	127,876	133,840	99,639	122,646	129,589	138,004	107,998	111,429	120,607	127,723	106,870	123,128	124,515	127,030	95,712	112,926	112,977	111,553	79,950	91,950	90,331	90,539	65,593	60,708	79,615	95,355	65,537	23,036	80,796	78,817	50,264	69,120	75,740
Operating Expenses:
Hotel Operating Expenses:
Hotel Operating Expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	66,779	65,900	65,718	-	66,373	64,134	57,355	60,952	60,648	56,948	48,776	50,880	50,298	47,077	40,176	27,990	43,512	50,130	40,350	8,980	41,675	39,444	31,303	36,150	39,518
Insurance Recoveries
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2	0	2,557	2,045	0	0	0	403	-	-	-	-	-	-	-	-	-	-
Hotel Ground Rent
1,063	1,129	1,228	1,114	1,110	623	1,328	1,349	928	867	892	894	807	924	891	892	893	914	768	727	728	718	710	595	410	246	245	266	228	213	214	214	194	184	182	255	256	256	354
Real Estate and Personal Property Taxes and Property Insurance
9,942	9,490	10,717	8,997	9,397	9,841	8,932	8,129	8,292	8,187	8,419	8,068	7,626	7,745	7,307	7,949	9,156	8,927	9,099	8,222	8,270	8,322	8,034	7,180	6,806	6,329	6,331	5,607	5,816	4,126	5,015	5,090	5,110	1,692	4,781	4,860	4,603	4,713	4,685
General and Administrative (including Share Based Payments of $2,456 and $1,958 for the three months ended March 31, 2020 and 2019, respectively)
5,834	7,118	5,613	8,100	5,600	8,364	5,841	7,585	5,091	7,411	4,919	6,598	4,625	7,189	5,400	6,455	5,400	5,949	4,796	5,423	4,347	6,053	5,670	4,738	3,902	7,771	5,257	5,691	5,150	8,164	4,705	5,340	5,168	10,499	3,976	2,116	1,897	1,968	1,918
Stock Based Compensation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,785	1,485	1,869	1,499
Acquisition and Terminated Transaction Costs
-	-	0	0	-	-	8	2	-	82	297	1,124	700	827	170	55	1,508	665	146	190	118	328	338	1,672	134	171	27	773	3	11	86	124	958	471	147	1,301	815	1,213	221
Loss on Impairment of Assets
-	-	-	-	-	-	-	-	-	-	3,812	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from Impairment of Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17
Depreciation and Amortization
24,188	24,345	24,092	23,964	24,128	23,467	22,764	22,061	21,539	22,518	21,658	20,114	19,462	18,131	18,704	18,495	20,060	18,995	18,814	18,328	18,253	16,802	18,565	17,457	16,343	14,628	14,572	13,886	12,698	8,390	12,488	13,924	13,441	2,965	12,839	12,612	12,146	11,381	12,681
(Gains from) Property Losses in Excess of Insurance Recoveries
-	-	0	0	-	-	4,778	6,363	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-
Contingent Consideration Related to Acquisition of Hotel Property
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total Operating Expenses
106,546	121,728	121,731	124,785	115,346	119,919	110,390	109,422	102,632	117,947	116,914	113,320	100,487	99,375	99,251	99,746	102,735	101,901	99,996	97,024	89,071	94,173	94,965	86,033	74,326	80,025	76,730	73,300	63,668	48,894	66,020	74,822	65,221	21,521	63,600	62,373	52,505	57,550	60,893
Operating Loss
-16,409	10,943	13,264	22,716	-553	13,789	17,486	24,418	-2,993	4,699	12,675	24,684	7,511	12,054	21,356	27,977	4,135	21,227	24,519	30,006	6,641	18,753	18,012	25,520	5,624	11,925	13,601	17,239	1,925	11,814	13,595	20,533	316	1,515	17,196	16,444	-2,241	11,570	14,847
Interest Income
36	46	66	58	83	46	23	20	25	34	40	72	125	143	95	78	46	49	45	51	48	59	71	277	398	409	450	469	456	452	407	346	106	93	144	117	102	12	16
Interest Expense
13,007	13,047	12,935	13,325	12,898	12,833	12,407	11,879	11,372	11,082	11,141	10,590	9,849	10,425	10,425	11,281	12,221	11,167	11,067	10,688	10,635	11,108	11,456	10,745	10,048	10,642	10,711	10,167	9,415	6,759	9,387	10,442	11,482	3,711	10,145	10,163	9,428	10,288	11,341
Other (Expense) Income
-72	-255	-246	-124	41	-157	-12	-75	-657	25	-118	-279	-399	-80	-125	-633	-123	-33	-9	-156	-169	273	-346	-214	-198	-	-112	-	-	522	-42	-287	-236	-145	-300	-283	-283	-77	-86
Gain (Loss) on Disposition of Assets
-	-	0	0	-	745	0	-14	3,417	806	-39	70,852	18,731	-	-437	95,276	-	-	-	-	-	-	-	7,227	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Lease Buyout
-	-	-	-	-	-	-	-	-	-	294	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on Hotel Acquisitions, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,609	-	-	-	12,107	-	-	-	-	-	-	-	-	-	-	-
Development Loan Recovery
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22,494	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on Debt Extinguishment
-	-	-231	-34	-	0	0	0	-22	-4	-312	0	-274	-111	15	-1,049	-42	-	-324	-222	-	-26	0	0	-644	0	0	-284	-261	-2,940	-3	-240	-6	-47	-21	-34	0	0	-1
Loss Before Results from Unconsolidated Joint Venture Investments and Income Taxes
-29,452	-2,328	-82	9,291	-13,327	1,590	5,090	12,470	-11,602	-5,548	1,399	84,739	15,845	5,750	10,479	110,368	-8,205	10,061	13,164	18,991	-4,115	6,977	6,281	58,168	-4,868	1,691	3,228	19,364	-7,295	3,089	4,570	9,910	-11,302	-2,295	6,874	6,081	-11,850	1,217	3,435
(Loss) Income from Unconsolidated Joint Ventures
-1,018	173	38	299	181	166	582	537	-201	163	539	711	-3,886	587	-3,717	1,521	-214	-	-	-	-274	-	-	-	-	-	-	-	-	-153	237	414	-730	1,282	107	-198	-981	-243	-131
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain (Loss), Net
-	-	-	-	-	-	-	-	-	1	0	0	16,239	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,668	-224	-	-	0	2,757	-	0	2,190
Impairment of Investment in Unconsolidated Joint Venture
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,677	-	-	0	-
Income from Unconsolidated Joint Venture Investments
-	-	-	-	-	-	-	-	-	164	539	711	12,353	587	-3,717	1,521	-214	105	608	526	-274	87	607	419	-420	-1,814	227	148	-396	-	-1,431	190	-	-	-1,570	2,559	-	-243	2,059
Loss Before Income Taxes
-30,470	-2,155	-44	9,590	-13,146	1,756	5,672	13,007	-11,803	-5,384	1,938	85,450	28,198	6,337	6,762	111,889	-8,419	-	13,772	19,517	-	7,064	6,888	58,587	-5,288	-123	3,455	19,512	-7,691	2,936	3,139	10,100	-12,032	-	-	-	-	-	-
Income Tax Benefit
-4,498	1,876	-551	4,031	-5,264	-933	2,685	1,170	-2,655	3,682	-1,325	662	2,243	-	-1,443	-3,070	-	-	-631	-109	-	-1,879	-699	1	-108	-3,534	-2,375	1,439	-1,130	-	-	-	0	-	-	-	-	-	-
Income from Continuing Operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,403	19,626	-4,389	8,943	7,587	58,586	-5,180	3,411	5,830	18,073	-6,561	6,291	3,139	10,100	-12,032	-1,013	5,304	8,640	-12,831	974	5,494
Loss on Disposition of Discontinued Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-83	-126	-57	138	-	-11	1,043	-	-37	-183	6,949	4,502	148	843	0	0	345	-
Impairment of Discontinued Assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	1,800	-	6,591	3,723	-	-	-	-	-	-	30,248	-	-	0	-
Income from Discontinued Operations, Net of Income Taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-25	-16	-25	329	2,740	3,071	2,692	-1,115	595	2,938	340	-384	1,471	1,597	708	-1,587	283	-
Loss from Discontinued Operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-108	-142	-82	-1,333	33,829	-3,531	12	-1,115	558	2,755	7,289	4,118	1,619	-27,808	708	-1,587	628	213
Net Loss
-25,972	-4,031	507	5,559	-7,882	2,689	2,987	11,837	-9,148	-9,066	3,263	84,788	25,955	6,712	8,205	114,959	-8,419	12,567	14,403	19,626	-4,389	8,611	7,587	58,586	-6,513	37,240	2,299	18,085	-7,676	6,849	5,894	17,389	-7,914	606	-22,504	9,348	-14,418	1,602	5,707
(Income) Loss Allocated to Noncontrolling Interests
-	-	-	-	-	-	-	-	-	-	-	-	1,181	-	211	4,748	-687	205	244	405	-443	-83	-49	1,655	-507	962	-164	210	-673	66	-279	796	-741	-166	-1,000	459	-1,027	263	1,151
Preferred Distributions
6,044	6,043	6,044	6,043	6,044	6,043	6,044	6,043	6,044	6,045	6,040	6,042	6,042	5,374	4,417	4,000	3,589	3,589	3,589	3,589	3,589	3,589	3,589	3,589	3,589	3,589	3,589	3,589	3,844	3,500	3,500	3,500	3,500	3,500	3,500	2,299	1,200	1,200	1,200
Extinguishment of Issuance Costs Upon Redemption of Preferred Shares
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,021	-	-	-	-	-	-	-	-	-	0	0	0	2,250	-	-	-	-	-	-	-	-	-	-
Issuance Costs of Redeemed Preferred Stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-
Net Loss Applicable to Common Shareholders
-29,119	-8,962	-5,435	-443	-13,003	-3,355	-3,235	6,494	-14,088	-14,334	-2,687	73,988	18,732	1,133	3,577	102,190	-11,321	8,773	10,570	15,632	-7,535	5,105	4,047	53,342	-9,595	32,689	-1,126	14,286	-13,097	3,283	2,673	13,093	-10,673	-2,728	-25,004	6,590	-14,591	139	3,356
Earnings Per Share:
BASIC
Loss from Continuing Operations Applicable to Common Shareholders (in dollars per share)
-0.76	-0.23	-0.15	-0.02	-0.34	-0.09	-0.09	0.16	-0.36	-	-0.07	1.77	0.45	0.04	0.08	2.35	-0.26	-	-	-	-	-0.03	0.08	1.07	-0.04	0.05	0.01	0.07	-0.06	0.03	0.00	0.03	-0.09	-0.03	0.01	0.04	-0.08	0.00	0.02
(Loss) Income from Discontinued Operations Applicable to Common Shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.02	0.00	0.00	-0.01	0.60	-0.02	0.00	-0.01	-0.01	0.01	0.04	0.03	0.02	-0.16	0.00	-0.01	0.00	0.00
Net Income Applicable to Common Shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.22	0.32	-0.15	-0.05	0.08	1.07	-0.05	0.65	-0.01	0.07	-0.07	0.02	0.01	0.07	-0.06	-0.01	-0.15	0.04	-0.09	0.00	0.02
DILUTED
Loss from Continuing Operations Applicable to Common Shareholders (in dollars per share)
-0.76	-0.23	-0.15	-0.02	-0.34	-0.09	-0.09	0.16	-0.36	-	-0.07	1.75	0.44	0.03	0.08	2.33	-0.26	-	-	-	-	-0.03	0.08	1.06	-0.04	0.05	0.01	0.07	-0.06	0.03	0.00	0.03	-0.09	-0.03	0.01	0.04	-0.08	0.00	0.02
(Loss) Income from Discontinued Operations Applicable to Common Shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.02	0.00	0.00	-0.01	0.59	-0.02	0.00	-0.01	-0.01	0.01	0.04	0.03	0.02	-0.16	0.00	-0.01	0.00	0.00
Net Income Applicable to Common Shareholders
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.22	0.32	-0.15	-0.05	0.08	1.06	-0.05	0.64	-0.01	0.07	-0.07	0.02	0.01	0.07	-0.06	-0.01	-0.15	0.04	-0.09	0.00	0.02
Weighted Average Common Shares Outstanding:
Basic (in shares)
38,564	38,509	38,878	39,127	39,115	39,330	39,321	39,246	39,636	-	41,721	41,737	41,716	41,712	42,309	43,427	44,379	45,616	47,417	48,530	49,582	-100,907	49,649	49,623	200,743	-396,150	198,878	198,633	197,029	196,608	196,360	186,264	170,427	169,020	168,985	168,672	168,334	138,636	137,200
Diluted (in shares)
38,564	38,509	38,878	39,127	39,115	38,651	39,321	39,926	39,636	-	41,721	42,207	42,110	43,134	42,745	43,863	44,379	46,942	47,909	49,043	49,582	-99,722	50,155	50,053	200,743	-397,956	201,644	201,201	197,029	193,861	196,360	189,011	170,427	160,725	172,266	173,687	168,334	138,636	140,284
Room
Hotel Operating Revenues:
71,083	105,324	108,909	118,980	91,485	105,409	103,958	109,492	79,048	98,224	107,695	114,461	90,769	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Hotel Operating Expenses
19,092	23,385	24,000	24,013	22,090	22,747	23,615	22,945	19,356	21,840	23,823	23,749	21,304	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Food and Beverage
Food and Beverage [Member]
Hotel Operating Revenues
10,075	17,028	15,870	18,253	14,228	18,379	15,628	17,001	13,538	17,970	14,775	15,010	10,736	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Hotel Operating Expenses
10,621	13,393	12,605	13,990	12,832	14,465	12,475	13,331	11,851	13,984	12,509	11,856	9,557	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating
Hotel Operating Revenues:
8,780	10,241	10,140	10,280	8,930	8,884	8,143	7,269	6,929	6,468	7,040	7,545	6,447	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Hotel Operating Expenses
35,806	42,856	43,476	44,607	40,189	41,901	40,205	40,383	35,575	38,520	40,585	40,917	36,406	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncontrolling Interests Common Units And LTIP Units
Net Loss
-2,897	-812	-442	-49	-1,063	-240	-72	500	-1,104	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Income) Loss Allocated to Noncontrolling Interests
-2,897	-812	-442	-49	-1,063	-240	-72	500	-1,104	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Consolidated Joint Ventures
Net Loss
-	0	0	0	-300	-	-2,108	-1,200	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
(Income) Loss Allocated to Noncontrolling Interests
0	-300	340	8	140	241	250	-1,200	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Noncontrolling Interests Common Units And LTIP Units [Member]
Loss (Income) Allocated to Noncontrolling Interests - Common Units
-	-	-	-	-	-	-	-	-	-	-90	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Joint Venture Partner [Member]
Loss (Income) Allocated to Noncontrolling Interests - Common Units
-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-