Chatham Lodging: 3Q Earnings Snapshot
WEST PALM BEACH, Fla. (AP) _ Chatham Lodging Trust (CLDT) on Thursday reported a loss in funds from operations in its third quarter, after reporting a profit in the same period a year earlier.
The West Palm Beach, Florida-based real estate investment trust said it had a funds from operations loss of $4.2 million, or 9 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 $18.1 million, or 38 cents per share.
The real estate investment trust posted revenue of $35 million in the period.
The company’s shares have fallen 61% since the beginning of the year. The stock has decreased 60% in the last 12 months.