Chatham Lodging Trust (REIT) (CLDT) to Issue Monthly Dividend of $0.11
Chatham Lodging Trust (REIT) (NYSE:CLDT) declared a monthly dividend on Thursday, January 11th, Wall Street Journal reports. Investors of record on Wednesday, January 31st will be given a dividend of 0.11 per share by the real estate investment trust on Friday, February 23rd. This represents a $1.32 annualized dividend and a yield of 5.78%. The ex-dividend date is Tuesday, January 30th.
Chatham Lodging Trust has increased its dividend payment by an average of 12.8% per year over the last three years and has increased its dividend every year for the last 3 years. Chatham Lodging Trust has a payout ratio of 61.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chatham Lodging Trust to earn $2.15 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 61.4%.
Chatham Lodging Trust (NYSE CLDT) traded up $0.23 during trading hours on Thursday, reaching $22.83. 254,792 shares of the company traded hands, compared to its average volume of 320,374. Chatham Lodging Trust has a 52-week low of $18.66 and a 52-week high of $23.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $922.90, a price-to-earnings ratio of 34.07 and a beta of 1.06.
Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Chatham Lodging Trust had a net margin of 9.03% and a return on equity of 3.90%. The firm had revenue of $81.40 million during the quarter, compared to analyst estimates of $80.12 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. equities research analysts expect that Chatham Lodging Trust will post 2.16 earnings per share for the current fiscal year.
Several research firms have recently weighed in on CLDT. Janney Montgomery Scott began coverage on shares of Chatham Lodging Trust in a report on Friday, September 15th. They set a “neutral” rating and a $21.00 price objective for the company. Cantor Fitzgerald reaffirmed a “hold” rating and set a $20.00 price objective on shares of Chatham Lodging Trust in a report on Thursday, September 21st. BidaskClub raised shares of Chatham Lodging Trust from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Zacks Investment Research lowered shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, Barclays raised their price objective on shares of Chatham Lodging Trust from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Chatham Lodging Trust presently has a consensus rating of “Hold” and a consensus price target of $21.25.
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Chatham Lodging Trust Company Profile
Chatham Lodging Trust is a real estate investment trust. The Company invests primarily in upscale extended-stay and premium-branded select-service hotels. All of the Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P. (the Operating Partnership). The Company owned 40 hotels with an aggregate of 5,939 rooms located in 16 states and the District of Columbia.
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