Chatham Lodging Trust (NYSE:CLDT) Announces $0.11 Monthly Dividend

Chatham Lodging Trust (NYSE:CLDT) announced a monthly dividend on Monday, January 13th, Wall Street Journal reports. Stockholders of record on Friday, January 31st will be paid a dividend of 0.11 per share by the real estate investment trust on Friday, February 28th. This represents a $1.32 annualized dividend and a dividend yield of 7.46%. The ex-dividend date is Thursday, January 30th.

Chatham Lodging Trust has raised its dividend by an average of 0.5% annually over the last three years. Chatham Lodging Trust has a payout ratio of 287.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Chatham Lodging Trust to earn $1.77 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 74.6%.

Shares of CLDT opened at $17.70 on Wednesday. The stock has a market capitalization of $830.02 million, a price-to-earnings ratio of 9.08 and a beta of 1.06. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.41 and a quick ratio of 1.41. The business’s 50 day simple moving average is $18.17 and its 200-day simple moving average is $17.91. Chatham Lodging Trust has a 1 year low of $16.29 and a 1 year high of $21.74.

Chatham Lodging Trust (NYSE:CLDT) last released its earnings results on Thursday, October 31st. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.36). The company had revenue of $90.08 million for the quarter, compared to the consensus estimate of $89.05 million. Chatham Lodging Trust had a net margin of 6.31% and a return on equity of 2.62%. On average, sell-side analysts expect that Chatham Lodging Trust will post 1.83 earnings per share for the current year.

Several research firms have recently weighed in on CLDT. ValuEngine raised Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research report on Friday, December 27th. Finally, BMO Capital Markets began coverage on Chatham Lodging Trust in a research report on Wednesday, October 16th. They set a “market perform” rating and a $17.00 target price on the stock. Five analysts have rated the stock with a hold rating, Chatham Lodging Trust currently has an average rating of “Hold” and a consensus price target of $18.75.

Chatham Lodging Trust Company Profile

Chatham 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. The company owns interests in 137 hotels totaling 18,783 rooms/suites, comprised of 42 properties it wholly owns with an aggregate of 6,283 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,500 rooms/suites.

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Dividend History for Chatham Lodging Trust (NYSE:CLDT)

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