Chatham Lodging Trust CLDT
Dollar amounts presented in this Item 1 are in thousands, except per share data.
Chatham Lodging Trust ("we," "us" or the "Company") was formed as a Maryland real estate investment trust on October 26, 2009. We elected to be taxed as a REIT for federal income tax purposes commencing with our 2010 taxable year. The Company is internally-managed and invests primarily in upscale extended-stay and premium-branded select-service hotels.
We had no operations prior to the consummation of our initial public offering ("IPO") in April 2010. The net proceeds from our share offerings are contributed to Chatham Lodging, L.P., our operating partnership (the "Operating Partnership"), in exchange for partnership interests. Substantially all of the Company's assets are held by, and all of its operations are conducted through, the Operating Partnership. Chatham Lodging Trust is the sole general partner of the Operating Partnership and owns 100% of the common units of limited partnership interest in the Operating Partnership ("common units"). Certain of the Company's executive officers hold vested and unvested long-term incentive plan units in the Operating Partnership ("LTIP Units"), which are presented as non-controlling interests on our consolidated balance sheets.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $295.1M | $317.2M | $311.1M | $294.9M | $204.0M | $144.9M | $328.3M | $324.2M | $301.8M | $295.9M |
| Cost of revenue | — | $181.2M | $175.4M | $160.8M | $119.3M | $95.5M | $174.3M | $170.6M | $155.7M | $148.8M |
| Gross profit | — | $136.0M | $135.7M | $134.1M | $84.7M | $49.4M | $154.1M | $153.7M | $146.2M | $147.1M |
| SG&A | $16.6M | $18.4M | $17.5M | $17.3M | $15.8M | $11.6M | $14.1M | $14.1M | $12.8M | $11.1M |
| Total operating expenses | $268.6M | $289.7M | $282.5M | $260.7M | $221.2M | $207.7M | $271.7M | $266.1M | $248.8M | $236.9M |
| Operating income | $40.9M | $33.2M | $28.6M | $36.5M | -$17.2M | -$41.7M | $53.4M | $58.1M | $56.4M | $58.9M |
| Interest expense | $25.7M | $30.9M | $27.1M | $26.5M | $24.5M | $28.1M | $28.2M | $26.9M | $27.9M | $28.3M |
| Pre-tax income | $15.3M | $4.0M | $2.5M | $9.9M | -$18.8M | -$77.0M | $18.9M | $30.8M | $30.1M | $31.4M |
| Income tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $28.0K | $396.0K | $301.0K |
| Net income | $15.1M | $4.2M | $2.6M | $9.8M | -$18.4M | -$76.0M | $18.7M | $30.6M | $29.5M | $31.5M |
| EPS, basic | 0.14 | -0.08 | -0.11 | 0.04 | -0.46 | -1.62 | 0.39 | 0.66 | 0.73 | 0.82 |
| EPS, diluted | 0.14 | -0.08 | -0.11 | 0.04 | -0.46 | -1.62 | 0.39 | 0.66 | 0.73 | 0.81 |
| Shares, diluted (wtd. avg.) | $50.0M | $48.9M | $48.8M | $49.1M | $48.3M | $47.0M | $47.0M | $46.2M | $40.1M | $38.5M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $24.4M | $20.2M | $68.1M | $45.2M | $29.9M | $31.5M | $20.2M | $32.3M | $36.5M | $37.0M |
| Total assets | $1.17B | $1.25B | $1.34B | $1.34B | $1.41B | $1.37B | $1.44B | $1.44B | $1.39B | $1.30B |
| Long-term debt | $338.9M | $406.9M | $486.1M | $470.3M | $544.9M | $609.7M | $586.9M | $585.1M | $540.5M | $585.1M |
| Total liabilities | $392.3M | $462.7M | $539.6M | $525.7M | $596.5M | $677.8M | $663.5M | $632.3M | $582.4M | $621.4M |
| Retained earnings | -$299.5M | -$289.1M | -$271.7M | -$252.7M | -$251.1M | -$228.7M | -$142.4M | -$99.3M | -$69.0M | -$45.7M |
| Total equity | $740.8M | $758.2M | $804.4M | $818.0M | $814.2M | $692.5M | $775.0M | $807.4M | $809.8M | $681.6M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $64.1M | $73.8M | $76.4M | $71.5M | $28.8M | -$20.0M | $86.2M | $86.2M | $86.7M | $87.7M |
| Depreciation and amortisation | $59.7M | $60.7M | $58.3M | $59.4M | $54.2M | $53.9M | $51.5M | $48.2M | $46.3M | $48.8M |
| Stock-based compensation | $6.3M | $6.4M | $6.1M | $5.6M | $4.8M | $4.6M | $4.7M | $4.2M | $3.8M | $3.0M |
| Investing cash flow | $45.4M | -$29.2M | -$28.1M | $30.0M | -$101.9M | $26.8M | -$44.6M | -$96.4M | -$158.4M | -$15.3M |
| Financing cash flow | -$106.6M | -$100.6M | -$7.7M | -$86.2M | $71.6M | $4.4M | -$53.8M | $6.0M | $71.2M | -$75.5M |
| Dividends paid | $17.6M | $14.4M | $14.2M | $147.0K | $282.0K | $16.2M | $62.7M | $61.6M | $52.6M | $53.0M |
| Buybacks | $9.0M | $0 | $0 | — | — | — | — | — | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001437749-26-006103.
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