Published on 3 Nov 2023 on GuruFocus.com via Yahoo Finance

Chatham Lodging Trust (CLDT) Q3 2023 Earnings: Net Income Drops to $7.5M

Chatham Lodging Trust (NYSE:CLDT) reported a decrease in net income to $7.5 million in Q3 2023, compared to $12.4 million in Q3 2022.Adjusted FFO was $20.2 million in Q3 2023, down from $25.2 million in the same period last year.Despite the decrease in net income, the company's Adjusted FFO per share beat estimates.Chatham Lodging Trust (NYSE:CLDT) repaid in full $60 million of maturing mortgage debt and issued $83 million of fixed-rate debt during Q3 2023.

Warning! GuruFocus has detected 5 Warning Signs with CLDT.

Chatham Lodging Trust (NYSE:CLDT), a lodging real estate investment trust (REIT), announced its Q3 2023 results on November 2, 2023. The company's net income for the quarter was $7.5 million, a decrease from $12.4 million in Q3 2022. Despite the decrease in net income, the company's Adjusted FFO per share surpassed estimates.