secwatch.observer — SEC 8-K summary
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Issuer:     Chatham Lodging Trust (CLDT)
CIK:        0001476045
Form:       8-K
Filed at:   2024-08-02T23:59:59+00:00
Accession:  0001476045-24-000043
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chatham Lodging Q2 adjusted FFO $0.39 beats estimates; RevPAR up 4% to $151, exceeds 2019
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- Q2 net income $7.0M ($0.10 diluted EPS) vs $9.4M ($0.15) a year ago; adjusted FFO $19.9M ($0.39) beat consensus.
- Portfolio RevPAR of $151 increased 4% YoY, first time exceeding 2019 RevPAR of $147; occupancy rose to 82%.
- Acquired Home2 Suites Phoenix Downtown for $43.3M ($293K per room); expects stabilized NOI yield >9%.
- Repaid $261M of maturing debt; $30M matures over next year; 60% of debt floating rate; leverage 26%.
- Q3 2024 guidance: RevPAR $148-$152, adjusted FFO per share $0.31-$0.36; dividend maintained $0.07/common.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1476045/000147604524000043/0001476045-24-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1476045/000147604524000043/cldt-20240802.htm
  HTML page:      https://secwatch.observer/filing/0001476045-24-000043

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