WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — Chatham Lodging Trust (CLDT) on Wednesday reported a key measure of profitability in its second quarter.
The real estate investment trust, based in West Palm Beach, Florida, said it had funds from operations of $18.5 million, or 36 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 net income of $3.4 million, or 7 cents per share.
The real estate investment trust, based in West Palm Beach, Florida, posted revenue of $80.3 million in the period.
For the current quarter ending in September, Chatham Lodging expects its per-share funds from operations to range from 29 cents to 33 cents.
The company expects full-year funds from operations in the range of 95 cents to $1.03 per share.
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