Chatham Lodging Trust (REIT) (CLDT) to Issue Monthly Dividend of $0.11
Chatham Lodging Trust (REIT) (NYSE:CLDT) declared a monthly dividend on Friday, September 8th, Wall Street Journal reports. Stockholders of record on Friday, September 29th will be paid a dividend of 0.11 per share by the real estate investment trust on Friday, October 27th. This represents a $1.32 annualized dividend and a dividend yield of 6.52%. The ex-dividend date is Thursday, September 28th.
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 every year for the last 2 years. Chatham Lodging Trust (REIT) has a dividend payout ratio of 61.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Chatham Lodging Trust (REIT) to earn $0.77 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 171.4%.
Chatham Lodging Trust (CLDT) traded up 0.30% on Friday, reaching $20.24. The company had a trading volume of 389,912 shares. The company has a 50-day moving average of $20.21 and a 200 day moving average of $19.85. The stock has a market cap of $792.76 million, a price-to-earnings ratio of 30.67 and a beta of 1.05. Chatham Lodging Trust has a one year low of $16.45 and a one year high of $21.55.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.52. Chatham Lodging Trust (REIT) had a net margin of 8.73% and a return on equity of 3.76%. The company had revenue of $77.90 million during the quarter, compared to the consensus estimate of $77.84 million. During the same quarter in the prior year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities research analysts predict that Chatham Lodging Trust will post $0.59 EPS for the current year.
In related news, Director Robert D. Perlmutter sold 2,566 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $20.37, for a total transaction of $52,269.42. Following the sale, the director now directly owns 33,258 shares in the company, valued at approximately $677,465.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.60% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on CLDT. Stifel Nicolaus reiterated a “hold” rating and issued a $19.50 price objective on shares of Chatham Lodging Trust (REIT) in a research note on Thursday. JMP Securities upgraded Chatham Lodging Trust (REIT) from a “market perform” rating to an “outperform” rating in a research note on Monday, August 28th. Zacks Investment Research lowered Chatham Lodging Trust (REIT) from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Finally, FBR & Co reiterated a “hold” rating and issued a $20.00 price objective on shares of Chatham Lodging Trust (REIT) in a research note on Friday, May 12th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $19.88.
About Chatham Lodging Trust (REIT)
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.
Receive News & Ratings for Chatham Lodging Trust (REIT) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chatham Lodging Trust (REIT) and related companies with MarketBeat.com's FREE daily email newsletter.