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

Chatham Lodging Trust (NYSE:CLDT) announced a monthly dividend on Tuesday, September 10th, Zacks reports. Investors of record on Monday, September 30th will be given a dividend of 0.11 per share by the real estate investment trust on Friday, October 25th. This represents a $1.32 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date of this dividend is Friday, September 27th.

Chatham Lodging Trust has increased its dividend payment by an average of 3.8% annually over the last three years. Chatham Lodging Trust has a payout ratio of 68.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Chatham Lodging Trust to earn $1.78 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 74.2%.

NYSE CLDT traded down $0.01 on Wednesday, hitting $18.28. The stock had a trading volume of 43,455 shares, compared to its average volume of 214,083. The business’s fifty day moving average price is $17.24 and its 200 day moving average price is $18.83. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.51 and a quick ratio of 1.51. Chatham Lodging Trust has a 52-week low of $16.29 and a 52-week high of $21.74. The stock has a market cap of $857.70 million, a price-to-earnings ratio of 9.39 and a beta of 1.06.

CLDT has been the subject of several research analyst reports. Barclays set a $18.00 price objective on shares of Chatham Lodging Trust and gave the company a “hold” rating in a research report on Monday, August 12th. B. Riley decreased their target price on Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Zacks Investment Research cut shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Finally, ValuEngine cut shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. Chatham Lodging Trust currently has an average rating of “Hold” and a consensus price target of $19.00.

In related news, Director Robert D. Perlmutter bought 2,500 shares of the stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $16.40 per share, for a total transaction of $41,000.00. Following the completion of the purchase, the director now directly owns 45,666 shares of the company’s stock, valued at $748,922.40. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 3.60% of the stock is currently 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 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.

Recommended Story: What is the significance of a dead cat bounce?

Dividend History for Chatham Lodging Trust (NYSE:CLDT)

Receive News & Ratings for Chatham Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chatham Lodging Trust and related companies with's FREE daily email newsletter.