WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — Chatham Lodging Trust (CLDT) on Tuesday reported a key measure of profitability in its first quarter.
The West Palm Beach, Florida-based real estate investment trust said it had funds from operations of $7.4 million, or 14 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 $451,000, or 1 cent per share.
The real estate investment trust, based in West Palm Beach, Florida, posted revenue of $68.6 million in the period.
For the current quarter ending in June, Chatham Lodging expects its per-share funds from operations to range from 32 cents to 36 cents.
The company expects full-year funds from operations in the range of 95 cents to $1.03 per share.
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