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Chatham Lodging: Q1 Earnings Snapshot
By AP News - May 04, 2023, 06:46 AM ET
Last Updated - Jun 21, 2023, 10:59 PM EDT
WEST PALM BEACH, Fla. (AP) — WEST PALM BEACH, Fla. (AP) — Chatham Lodging Trust (CLDT) on Thursday reported a key measure of profitability in its first quarter. The results topped Wall Street expectations.
The West Palm Beach, Florida-based real estate investment trust said it had funds from operations of $7.9 million, or 16 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 13 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 $6.8 million, or 14 cents per share.
The real estate investment trust, based in West Palm Beach, Florida, posted revenue of $67.6 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $65.6 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a CLDT">Zacks stock report on CLDT at https://www.zacks.com/ap/CLDT
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