Chatham Lodging Q4 AFFO Declines

(RTTNews) - Real estate company Chatham Lodging Trust (CLDT), Tuesday announced its fourth-quarter financial report, which revealed a decline in its adjusted funds from operations to $9.8 million or $0.19 per share, from the previous year's $10.2 million or $0.20 per share.

FFO decreased to $7.57 million from $10.07 million last year.

Loss for the quarter totaled $9.3 million or $0.23 a share versus $2.1 million or $0.08 a share last year.

Revenue increased to $72.2 million from $70.3 million in the year ago quarter.

Looking ahead, the company expects an AFFO of $0.10 to $0.14 per share and a loss of $0.15 to $0.19 per share for the first quarter of 2024.

Currently, Chatham's stock is slipping 2.54 percent, to $10 on the New York Stock Exchange.