Chatham Lodging Trust (CLDT) 10-Year Financial Performance & Capital Metrics

CLDT • • REIT / Real Estate

Real EstateHotel REITsExtended-Stay & Compact HotelsExtended-Stay Specialists

AboutChatham Lodging Trust is a self-advised, publicly traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. At September, 30, 2020, The company owns interests in 86 hotels totaling 12,040 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,092 rooms/suites in 15 states and the District of Columbia and a minority investment in the Innkeepers joint ventures that owns 46 hotels with an aggregate of 5,948 rooms/suites.Show more

Revenue $317M +2.0%
FFO $65M +6.6%
FFO/Share 1.33 +6.5%
FFO Payout 22.15% -5.1%
FFO per Share 1.33 +6.5%
NOI Margin 35.06% -1.7%
FFO Margin 20.46% +4.5%
ROE 0.52% +60.1%
ROA 0.32% +62.9%
Debt/Assets 34.07% -9.3%
Net Debt/EBITDA 4.33 -13.8%
Book Value/Share 16.20 -1.6%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FFO growing 21.4% TTM
✓Sustainable FFO payout ratio of 22.2%
✓Healthy dividend yield of 4.2%
✓Trading at only 0.4x book value

✗Weaknesses

✗Weak 3Y average ROE of 0.7%
✗Profits declining 25.9% over 5 years
✗Low NOI margin of 35.1%
✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y4.87%

5Y-0.69%

3Y15.86%

TTM-3.79%

Profit (Net Income) CAGR

10Y-24.24%

5Y-25.94%

3Y-

TTM381.23%

EPS CAGR

10Y-

5Y-

3Y-

TTM85.56%

ROCE

10Y Avg2.46%

5Y Avg0.67%

3Y Avg2.57%

Latest2.75%

Peer Comparison

Extended-Stay Specialists

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CLDTChatham Lodging Trust	339.61M	7.00	-87.50	1.96%	2.89%	1.11%	21.53%	0.54

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Revenue+	276.95M	293.82M	298.86M	324.23M	328.33M	132.45M	203.97M	294.85M	311.11M	317.21M
Revenue Growth %	0.4%	0.06%	0.02%	0.08%	0.01%	-0.6%	0.54%	0.45%	0.06%	0.02%
Property Operating Expenses	159.32M	174.48M	179.51M	199.98M	204.64M	94.93M	144.85M	183.29M	200.18M	205.99M
Net Operating Income (NOI)+	-	-	-	-	-	-	-	-	-	-
NOI Margin %	-	-	-	-	-	-	-	-	-	-
Operating Expenses+	60.66M	59.89M	59.12M	62.29M	70.31M	79.17M	76.34M	75.1M	82.32M	78M
G&A Expenses	11.68M	11.12M	12.82M	14.12M	14.08M	33.73M	15.75M	17.34M	17.52M	18.39M
EBITDA+	104.5M	293.82M	295.18M	324.21M	104.64M	11.97M	37M	95.8M	86.87M	93.96M
EBITDA Margin %	-	-	-	-	-	-	-	-	-	-
Depreciation & Amortization+	48.98M	234.88M	242.14M	266.08M	51.26M	53.63M	54.22M	59.35M	58.25M	60.74M
D&A / Revenue %	-	-	-	-	-	-	-	-	-	-
Operating Income+	55.52M	58.94M	53.04M	58.13M	53.38M	-41.65M	-17.21M	36.45M	28.61M	33.22M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Interest Expense+	27.92M	28.3M	27.9M	26.88M	28.25M	28.12M	24.46M	26.45M	25.92M	29.47M
Interest Coverage	1.99x	2.08x	1.90x	2.16x	1.89x	-1.48x	-0.70x	1.38x	1.10x	1.13x
Non-Operating Income	-3.59M	0	-4.94M	414K	6.26M	14.25M	-21.46M	128K	208K	-286K
Pretax Income+	33.44M	31.39M	30.08M	30.84M	18.88M	-77.02M	-18.84M	9.87M	2.49M	4.04M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	260K	-301K	396K	-28K	0	0	0	0	0	0
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	32.97M	31.48M	29.48M	30.64M	18.7M	-76.02M	-18.41M	9.8M	2.64M	4.17M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.51%	-0.04%	-0.06%	0.04%	-0.39%	-5.06%	0.76%	1.53%	-0.73%	0.58%
Funds From Operations (FFO)+	-	-	-	-	-	-	-	-	-	-
FFO Margin %	-	-	-	-	-	-	-	-	-	-
FFO Growth %	-0.19%	2.25%	0.02%	0.09%	-0.76%	-1.32%	2.6%	0.93%	-0.12%	0.07%
FFO per Share+	-	-	-	-	-	-	-	-	-	-
FFO Payout Ratio %	-	-	-	-	-	-	-	-	-	-
EPS (Diluted)+	0.86	0.81	0.73	0.66	-0.04	-1.97	-0.85	-0.34	-0.11	-0.08
EPS Growth %	-0.63%	-0.06%	-0.1%	-0.1%	-1.05%	-54.97%	0.57%	0.6%	0.68%	0.27%
EPS (Basic)	0.87	0.82	0.73	0.67	-0.04	-1.97	-0.85	-0.34	-0.11	-0.08
Diluted Shares Outstanding	38.32M	38.48M	40.11M	46.24M	47.02M	46.96M	48.35M	49.06M	48.85M	48.9M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Assets+	1.34B	1.3B	1.39B	1.44B	1.44B	1.37B	1.41B	1.34B	1.34B	1.25B
Asset Growth %	0.15%	-0.03%	0.07%	0.03%	-0%	-0.05%	0.03%	-0.05%	0%	-0.07%
Real Estate & Other Assets+	8.03M	4.22M	4.62M	5.01M	1.37B	1.32B	1.36B	1.27B	1.23B	1.2B
PP&E (Net)	1.26B	1.23B	1.32B	1.37B	21.27M	20.64M	19.98M	19.3M	18.14M	17.55M
Investment Securities	1000K	1000K	1000K	1000K	1000K	0	0	0	0	0
Total Current Assets+	49.79M	44.37M	43.07M	39.26M	24.81M	33.14M	32.87M	50.33M	93.91M	32.77M
Cash & Equivalents	21.04M	12.12M	9.33M	7.19M	6.62M	21.12M	19.19M	26.27M	68.13M	20.2M
Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Assets	24.32M	27.86M	24.64M	27.58M	10.95M	8.06M	7.89M	18.88M	21.41M	9.65M
Intangible Assets	0	4.39M	4.05M	4.5M	0	0	0	0	0	0
Total Liabilities	642.9M	621.36M	582.44M	632.29M	663.55M	677.8M	596.51M	525.74M	539.55M	462.68M
Total Debt+	607.87M	582.82M	538.32M	583.28M	699.18M	767.3M	566.99M	491.99M	504.88M	427.48M
Net Debt	586.84M	570.71M	528.98M	576.09M	692.56M	746.18M	547.8M	465.72M	436.75M	407.29M
Long-Term Debt	605.2M	582.82M	538.32M	583.28M	585.47M	608.77M	474.29M	469.88M	484.08M	296.85M
Short-Term Borrowings	0	1000K	1000K	1000K	1000K	1000K	1000K	0	0	1000K
Capital Lease Obligations	0	0	0	0	23.72M	23.23M	22.7M	22.11M	20.81M	20.63M
Total Current Liabilities+	35.02M	38.54M	44.12M	49.01M	54.37M	45.79M	99.52M	33.75M	34.67M	145.2M
Accounts Payable	25.1M	27.78M	31.69M	33.69M	33.01M	25.37M	27.72M	28.53M	29.25M	29.62M
Deferred Revenue	-58.36M	0	0	0	0	0	0	0	0	0
Other Liabilities	0	0	0	0	0	0	0	0	0	0
Total Equity+	697M	681.59M	809.78M	807.42M	775.02M	692.46M	814.19M	818M	804.38M	792M
Equity Growth %	0.18%	-0.02%	0.19%	-0%	-0.04%	-0.11%	0.18%	0%	-0.02%	-0.02%
Shareholders Equity	692.87M	676.74M	803.16M	797.47M	762.38M	677.75M	797.5M	794.89M	776.06M	758.22M
Minority Interest	4.13M	4.85M	6.62M	9.95M	12.65M	14.71M	16.69M	23.1M	28.32M	33.78M
Common Stock	379K	380K	450K	465K	469K	470K	487K	488K	488K	489K
Additional Paid-in Capital	719.77M	722.02M	871.73M	896.29M	904.27M	906M	1.05B	1.05B	1.05B	1.05B
Retained Earnings	-27.28M	-45.66M	-69.02M	-99.28M	-142.37M	-228.72M	-251.1M	-252.66M	-271.65M	-289.13M
Preferred Stock	0	0	0	0	0	0	48K	48K	48K	48K
Return on Assets (ROA)	0.03%	0.02%	0.02%	0.02%	0.01%	-0.05%	-0.01%	0.01%	0%	0%
Return on Equity (ROE)	0.05%	0.05%	0.04%	0.04%	0.02%	-0.1%	-0.02%	0.01%	0%	0.01%
Debt / Assets	0.45%	0.45%	0.39%	0.41%	0.49%	0.56%	0.4%	0.37%	0.38%	0.34%
Debt / Equity	0.87x	0.86x	0.66x	0.72x	0.90x	1.11x	0.70x	0.60x	0.63x	0.54x
Net Debt / EBITDA	5.62x	1.94x	1.79x	1.78x	6.62x	62.32x	14.80x	4.86x	5.03x	4.33x
Book Value per Share	18.19	17.71	20.19	17.46	16.48	14.75	16.84	16.67	16.47	16.20

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	81.84M	87.67M	86.69M	86.22M	86.23M	-19.96M	28.78M	71.53M	76.44M	73.83M
Operating CF Growth %	0.66%	0.07%	-0.01%	-0.01%	0%	-1.23%	2.44%	1.49%	0.07%	-0.03%
Operating CF / Revenue %	-	-	-	-	-	-	-	-	-	-
Net Income	33.18M	31.7M	29.68M	30.87M	18.88M	-77.02M	-18.84M	9.87M	2.49M	4.04M
Depreciation & Amortization	48.78M	48.56M	46.06M	47.93M	51.26M	53.63M	53.97M	59.12M	58.04M	60.52M
Stock-Based Compensation	2.83M	3.01M	3.78M	4.21M	4.72M	4.88M	4.82M	5.55M	6.12M	6.4M
Other Non-Cash Items	1.8M	586K	3.3M	2.03M	10.89M	3.11M	2.07M	-440K	8.41M	184K
Working Capital Changes	817K	4.24M	3.47M	1.2M	459K	-4.59M	3.68M	-2.57M	1.39M	2.69M
Cash from Investing+	-182.36M	-21.08M	-160.65M	-96.4M	-44.58M	26.81M	-101.94M	29.96M	-28.11M	-29.17M
Acquisitions (Net)	-156.54M	0	-5.04M	-138.25M	-8.17M	-26.81M	2.8M	0	0	0
Purchase of Investments	3.58M	-5.81M	-5.04M	0	-12.22M	-23.16M	-23.9M	0	0	0
Sale of Investments	-1000K	10K	1000K	0	1000K	1000K	1000K	0	0	0
Other Investing	-5.49M	1.41M	-2.23M	143.28M	2.69M	26.81M	-74.14M	29.96M	-28.11M	-28.47M
Cash from Financing+	106.48M	-75.51M	71.17M	6.02M	-53.81M	4.43M	71.58M	-86.21M	-7.73M	-100.56M
Dividends Paid	-45.26M	-52.97M	-52.62M	-61.59M	-62.66M	-16.24M	-2.6M	-8.1M	-22.16M	-22.33M
Common Dividends	-45.26M	-52.97M	-52.62M	-61.59M	-62.66M	-16.24M	-282K	-147K	-14.21M	-14.38M
Debt Issuance (Net)	1000K	-1000K	-1000K	1000K	1000K	1000K	-1000K	-1000K	1000K	-1000K
Share Repurchases	-22K	0	0	0	0	0	0	0	0	0
Other Financing	-4.15M	-216K	-2.24M	-1.47M	-257K	-2.22M	-5.62M	-3.5M	-1.48M	-1.34M
Net Change in Cash+	5.96M	-8.92M	-2.79M	-4.16M	-12.15M	11.27M	-1.58M	15.28M	40.6M	-55.91M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	15.08M	21.04M	12.12M	36.5M	32.34M	20.18M	31.45M	29.87M	45.15M	85.75M
Cash at End	21.04M	12.12M	9.33M	32.34M	20.18M	31.45M	29.87M	45.15M	85.75M	29.84M
Free Cash Flow+	61.51M	65.17M	-81.79M	-15.22M	50.38M	-34.45M	19.27M	71.53M	76.44M	73.13M
FCF Growth %	0.79%	0.06%	-2.25%	0.81%	4.31%	-1.68%	1.56%	2.71%	0.07%	-0.04%
FCF / Revenue %	-	-	-	-	-	-	-	-	-	-

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
FFO per Share	2.14	6.92	6.77	6.42	1.49	-0.48	0.74	1.41	1.25	1.33
FFO Payout Ratio	55.24%	19.88%	19.37%	20.76%	89.56%	-72.5%	0.79%	0.21%	23.34%	22.15%
NOI Margin	42.47%	40.62%	39.93%	38.32%	37.67%	28.33%	28.99%	37.84%	35.66%	35.06%
Net Debt / EBITDA	5.62x	1.94x	1.79x	1.78x	6.62x	62.32x	14.80x	4.86x	5.03x	4.33x
Debt / Assets	45.37%	44.73%	38.67%	40.51%	48.6%	56%	40.19%	36.61%	37.57%	34.07%
Interest Coverage	1.99x	2.08x	1.90x	2.16x	1.89x	-1.48x	-0.70x	1.38x	1.10x	1.13x
Book Value / Share	18.19	17.71	20.19	17.46	16.48	14.75	16.84	16.67	16.47	16.2
Revenue Growth	40.43%	6.09%	1.71%	8.49%	1.26%	-59.66%	54%	44.55%	5.51%	1.96%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Occupancy	295.9M	296.27M	130.56M	187.37M	272.26M	285M	290.29M
Occupancy Growth	-	0.13%	-55.93%	43.51%	45.31%	4.68%	1.86%
General and Administrative	25.57M	25.64M	-	-	26.09M	28.88M	28.83M
General and Administrative Growth	-	0.29%	-	-	-	10.73%	-0.20%
Franchise And Marketing Fees	-	-	-	-	-	24.9M	25.36M
Franchise And Marketing Fees Growth	-	-	-	-	-	-	1.84%
Other	13.71M	16.57M	7.59M	11.35M	13.96M	16.7M	18.08M
Other Growth	-	20.84%	-54.19%	49.56%	22.98%	19.67%	8.23%
Maintenance	14.71M	14.32M	-	-	14.14M	15.84M	16.52M
Maintenance Growth	-	-2.64%	-	-	-	11.96%	4.29%
Public Utilities	10.84M	10.87M	-	-	12.05M	13.01M	13.16M
Public Utilities Growth	-	0.30%	-	-	-	7.96%	1.18%
Food and Beverage	8.88M	9.82M	2.72M	3.52M	7.3M	8.12M	7.74M
Food and Beverage Growth	-	10.63%	-72.33%	29.69%	107.18%	11.24%	-4.76%
Advertising	6.23M	6.04M	-	-	5.4M	6.08M	6.23M
Advertising Growth	-	-2.95%	-	-	-	12.75%	2.37%
Hotel, Other	3.3M	4.04M	-	-	3.49M	3.71M	4.13M
Hotel, Other Growth	-	22.54%	-	-	-	6.42%	11.18%
Insurance	1.35M	1.36M	-	-	2.75M	2.82M	3.34M
Insurance Growth	-	0.74%	-	-	-	2.77%	18.36%
Telephone	1.77M	1.64M	-	-	1.45M	1.44M	1.36M
Telephone Growth	-	-7.25%	-	-	-	-0.69%	-5.49%
Franchise and Marketing Fees	24.86M	25.85M	-	-	23.67M	-	-
Franchise and Marketing Fees Growth	-	3.97%	-	-	-	-	-
Management Service	10.75M	10.82M	-	-	10.13M	-	-
Management Service Growth	-	0.63%	-	-	-	-	-
Cost Reimbursements from Unconsolidated Real Estate Entities	5.74M	5.67M	4.04M	1.73M	1.32M	-	-
Cost Reimbursements from Unconsolidated Real Estate Entities Growth	-	-1.27%	-28.66%	-57.21%	-23.45%	-	-

Frequently Asked Questions

Growth & Financials

Chatham Lodging Trust (CLDT) reported $302.4M in revenue for fiscal year 2024. This represents a 314% increase from $73.1M in 2011.

Chatham Lodging Trust (CLDT) grew revenue by 2.0% over the past year. Growth has been modest.

Yes, Chatham Lodging Trust (CLDT) is profitable, generating $8.7M in net income for fiscal year 2024 (1.3% net margin).

Dividend & Returns

Yes, Chatham Lodging Trust (CLDT) pays a dividend with a yield of 4.20%. This makes it attractive for income-focused investors.

Chatham Lodging Trust (CLDT) has a return on equity (ROE) of 0.5%. This is below average, suggesting room for improvement.

Industry Metrics

Chatham Lodging Trust (CLDT) generated Funds From Operations (FFO) of $69.1M in the trailing twelve months. FFO is the primary profitability metric for REITs.

Chatham Lodging Trust (CLDT) offers a 4.20% dividend yield, which is attractive for income investors. REITs are required to distribute at least 90% of taxable income to shareholders.

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