Chatham Lodging (CLDT) Q2 FFO and Revenues Top Estimates

Core Viewpoint - Chatham Lodging (CLDT) reported quarterly funds from operations (FFO) of $0.39 per share, exceeding the Zacks Consensus Estimate of $0.36 per share, but down from $0.43 per share a year ago, indicating an FFO surprise of 8.33% [1] Financial Performance - The company achieved revenues of $86.48 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.17% and up from $84.48 million year-over-year [2] - Over the last four quarters, Chatham Lodging has exceeded consensus FFO estimates four times and topped consensus revenue estimates three times [2] Stock Performance and Outlook - Chatham Lodging shares have declined approximately 19.1% since the beginning of the year, contrasting with the S&P 500's gain of 14.2% [3] - The company's FFO outlook is crucial for assessing future stock performance, with current consensus FFO estimates at $0.37 for the upcoming quarter and $1.08 for the current fiscal year [4][7] Estimate Revisions and Industry Context - The estimate revisions trend for Chatham Lodging is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [6] - The REIT and Equity Trust - Other industry is ranked in the top 39% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [8]