Chatham Lodging Trust (NYSE:CLDT) Updates Q2 2024 Earnings Guidance

Posted by Doug Wharley on May 6th, 2024

Chatham Lodging Trust (NYSE:CLDT – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.330-0.360 for the period, compared to the consensus earnings per share estimate of 0.420. The company issued revenue guidance of $84.3 million-$85.4 million, compared to the consensus revenue estimate of $86.4 million.

Chatham Lodging Trust Stock Performance

CLDT stock opened at $9.18 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.08 and a quick ratio of 3.08. The stock has a 50-day moving average price of $9.82 and a two-hundred day moving average price of $10.14. Chatham Lodging Trust has a 12-month low of $8.92 and a 12-month high of $11.32.

Chatham Lodging Trust (NYSE:CLDT – Get Free Report) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.38). The business had revenue of $72.28 million for the quarter, compared to analyst estimates of $70.46 million. Chatham Lodging Trust had a return on equity of 0.33% and a net margin of 0.85%. During the same period last year, the company posted $0.20 EPS. Sell-side analysts expect that Chatham Lodging Trust will post 1.15 EPS for the current fiscal year.

Chatham Lodging Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.07 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.28 annualized dividend and a yield of 3.05%. Chatham Lodging Trust’s dividend payout ratio is currently -254.55%.

Analyst Ratings Changes

Separately, Barclays decreased their target price on Chatham Lodging Trust from $13.00 to $12.00 and set an overweight rating for the company in a research report on Wednesday, April 17th.

View Our Latest Research Report on Chatham Lodging Trust

About Chatham Lodging Trust

(Get Free Report)

Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,915 rooms/suites in 16 states and the District of Columbia.