WEST PALM BEACH, Fla. (AP) _ Chatham Lodging Trust (CLDT) on Wednesday 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 $16.2 million, or 34 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 $1.6 million, or 3 cents per share.
The real estate investment trust posted revenue of $75.7 million in the period.
For the current quarter ending in July, Chatham Lodging expects its per-share funds from operations to range from 58 cents to 61 cents.
The company expects full-year funds from operations in the range of $1.80 to $1.90 per share.
The company's shares have risen 11% since the beginning of the year. The stock has risen slightly more than 3% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CLDT at https://www.zacks.com/ap/CLDT