WEST PALM BEACH, Fla. (AP) 鈥� WEST PALM BEACH, Fla. (AP) 鈥� Chatham Lodging Trust (CLDT) on Tuesday reported a key measure of profitability in its second quarter.
The West Palm Beach, Florida-based real estate investment trust said it had funds from operations of $23.6 million, or 48 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 $6.2 million, or 13 cents per share.
The real estate investment trust, based in West Palm Beach, Florida, posted revenue of $87.8 million in the period.
Chatham Lodging expects full-year funds from operations in the range of $1.28 to $1.34 per share.
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