WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — Chatham Lodging Trust (CLDT) on Thursday reported a key measure of profitability in its fourth quarter. The results exceeded Wall Street expectations.
The West Palm Beach, Florida-based real estate investment trust said it had funds from operations of $10.2 million, or 20 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 18 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 a loss of $4 million, or 8 cents per share.
The real estate investment trust posted revenue of $70.3 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $68.1 million.
For the year, the company reported funds from operations of $59.6 million, or $1.19 per share. Revenue was reported as $294.9 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
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