Chatham Lodging Trust (REIT) Announces Monthly Dividend of $0.11 (CLDT)
Chatham Lodging Trust (REIT) (NYSE:CLDT) announced a monthly dividend on Monday, November 13th, Wall Street Journal reports. Investors of record on Thursday, November 30th will be given a dividend of 0.11 per share by the real estate investment trust on Friday, December 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date of this dividend is Wednesday, November 29th.
Chatham Lodging Trust (REIT) has raised its dividend payment by an average of 10.0% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Chatham Lodging Trust (REIT) has a payout ratio of 60.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Chatham Lodging Trust (REIT) to earn $2.17 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 60.8%.
Chatham Lodging Trust (NYSE:CLDT) traded down $0.09 during mid-day trading on Monday, hitting $22.84. 422,800 shares of the company were exchanged, compared to its average volume of 326,086. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.42 and a quick ratio of 1.42. Chatham Lodging Trust has a 12-month low of $18.66 and a 12-month high of $23.27. The stock has a market capitalization of $1,036.31, a price-to-earnings ratio of 10.20 and a beta of 1.03.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The firm had revenue of $81.40 million for the quarter, compared to analyst estimates of $80.12 million. Chatham Lodging Trust (REIT) had a net margin of 9.03% and a return on equity of 3.90%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. sell-side analysts forecast that Chatham Lodging Trust will post 2.17 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on CLDT shares. BidaskClub downgraded Chatham Lodging Trust (REIT) from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Stifel Nicolaus reissued a “hold” rating and issued a $19.50 price objective on shares of Chatham Lodging Trust (REIT) in a report on Thursday, September 7th. B. Riley reissued a “neutral” rating on shares of Chatham Lodging Trust (REIT) in a report on Thursday, November 2nd. Zacks Investment Research downgraded Chatham Lodging Trust (REIT) from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, Barclays PLC reissued a “hold” rating on shares of Chatham Lodging Trust (REIT) in a report on Sunday, November 5th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $21.08.
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Chatham Lodging Trust (REIT) 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). As of December 31, 2016, the Company owned 38 hotels with an aggregate of 5,712 rooms located in 15 states and the District of Columbia.
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