Chatham Lodging: Q3 Earnings Snapshot
WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — Chatham Lodging Trust (CLDT) on Thursday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — Chatham Lodging Trust (CLDT) on Thursday reported a key measure of profitability in its third quarter. The results beat Wall Street expectations.
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The real estate investment trust, based in West Palm Beach, Florida, said it had funds from operations of $20.2 million, or 40 cents per share, in the period.
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The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 38 cents per share.
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 net income of $5.3 million, or 11 cents per share.
The real estate investment trust, based in West Palm Beach, Florida, posted revenue of $86.7 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $86.3 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CLDT at https://www.zacks.com/ap/CLDT