WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — Chatham Lodging Trust (CLDT) on Wednesday reported a key measure of profitability in its fourth quarter.
The West Palm Beach, Florida-based real estate investment trust said it had funds from operations of $10.4 million, or 21 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 $2.6 million, or 5 cents per share.
The real estate investment trust, based in West Palm Beach, Florida, posted revenue of $67.7 million in the period.
For the year, the company reported funds from operations of $52.7 million. Revenue was reported as $295.1 million.
Chatham Lodging expects full-year funds from operations in the range of $1.04 to $1.14 per share, with revenue in the range of $284 million to $290 million.
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