Chatham Lodging Trust (REIT) (CLDT) to Issue Monthly Dividend of $0.11
Chatham Lodging Trust (REIT) (NYSE:CLDT) declared a monthly dividend on Monday, July 10th, Wall Street Journal reports. Shareholders of record on Monday, July 31st will be given a dividend of 0.11 per share by the real estate investment trust on Friday, August 25th. This represents a $1.32 annualized dividend and a yield of 6.70%. The ex-dividend date is Thursday, July 27th.
Chatham Lodging Trust (REIT) has increased its dividend 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 60.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Chatham Lodging Trust (REIT) to earn $0.72 per share next year, which means the company may not be able to cover its $1.32 annual dividend with an expected future payout ratio of 183.3%.
Chatham Lodging Trust (CLDT) traded down 1.65% during trading on Monday, reaching $19.69. The company’s stock had a trading volume of 210,098 shares. The firm has a 50-day moving average price of $19.72 and a 200-day moving average price of $19.98. The firm has a market capitalization of $754.95 million, a P/E ratio of 23.16 and a beta of 1.04. Chatham Lodging Trust has a 52 week low of $16.45 and a 52 week high of $24.80.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last announced its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Chatham Lodging Trust (REIT) had a return on equity of 4.79% and a net margin of 11.15%. The company had revenue of $69.22 million during the quarter, compared to the consensus estimate of $69.16 million. During the same quarter in the prior year, the firm earned $0.46 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. On average, equities analysts anticipate that Chatham Lodging Trust will post $0.73 EPS for the current fiscal year.
A number of brokerages have recently commented on CLDT. Zacks Investment Research upgraded Chatham Lodging Trust (REIT) from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. FBR & Co reissued a “hold” rating and set a $20.00 target price on shares of Chatham Lodging Trust (REIT) in a research note on Friday, May 12th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Chatham Lodging Trust (REIT) presently has an average rating of “Hold” and an average price target of $19.60.
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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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