Chatham Lodging Trust (CLDT) to Issue Monthly Dividend of $0.11 on November 30th

Chatham Lodging Trust (NYSE:CLDT) declared a monthly dividend on Wednesday, October 10th, Zacks reports. Shareholders of record on Wednesday, October 31st will be paid a dividend of 0.11 per share by the real estate investment trust on Friday, November 30th. This represents a $1.32 annualized dividend and a yield of 6.85%. The ex-dividend date is Tuesday, October 30th.

Chatham Lodging Trust has raised its dividend payment by an average of 12.8% per year over the last three years and has increased its dividend annually for the last 3 consecutive years. Chatham Lodging Trust has a dividend payout ratio of 68.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Chatham Lodging Trust to earn $1.97 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 67.0%.

Shares of NYSE CLDT opened at $19.28 on Monday. The firm has a market capitalization of $884.55 million, a price-to-earnings ratio of 9.01 and a beta of 1.15. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.66. Chatham Lodging Trust has a fifty-two week low of $17.90 and a fifty-two week high of $23.91.

Chatham Lodging Trust (NYSE:CLDT) last announced its quarterly earnings data on Wednesday, August 1st. The real estate investment trust reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.29). Chatham Lodging Trust had a net margin of 11.54% and a return on equity of 4.61%. The company had revenue of $86.59 million during the quarter, compared to analyst estimates of $83.34 million. As a group, equities research analysts forecast that Chatham Lodging Trust will post 1.92 EPS for the current fiscal year.

A number of equities analysts have recently commented on the company. Stifel Nicolaus reissued a “hold” rating and set a $20.00 price target on shares of Chatham Lodging Trust in a report on Wednesday, August 1st. TheStreet raised Chatham Lodging Trust from a “c+” rating to a “b-” rating in a report on Thursday, July 12th. ValuEngine raised Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research cut Chatham Lodging Trust from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Finally, B. Riley boosted their price target on Chatham Lodging Trust from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.20.

In other Chatham Lodging Trust news, Director C Gerald Goldsmith sold 1,800 shares of the company’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $21.65, for a total value of $38,970.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.40% of the stock is owned by corporate insiders.

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 135 hotels totaling 18,518 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,020 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 12,498 rooms/suites.

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Dividend History for Chatham Lodging Trust (NYSE:CLDT)

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