Chatham Lodging Trust (REIT) Announces Monthly Dividend of $0.11 (CLDT)
Chatham Lodging Trust (REIT) (NYSE:CLDT) announced a monthly dividend on Tuesday, October 10th, Wall Street Journal reports. Shareholders of record on Tuesday, October 31st will be paid a dividend of 0.11 per share by the real estate investment trust on Friday, November 24th. This represents a $1.32 annualized dividend and a yield of 6.14%. The ex-dividend date of this dividend is Monday, October 30th.
Chatham Lodging Trust (REIT) has increased 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 60.8% meaning its dividend is sufficiently covered by earnings. Equities research 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%.
Shares of Chatham Lodging Trust (NYSE CLDT) traded down 0.05% during mid-day trading on Tuesday, reaching $21.50. 283,189 shares of the company’s stock traded hands. The company has a market cap of $842.11 million, a P/E ratio of 32.58 and a beta of 1.07. The firm has a 50-day moving average of $20.71 and a 200 day moving average of $20.07. Chatham Lodging Trust has a 12-month low of $16.45 and a 12-month high of $21.72.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last issued its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.52). The business had revenue of $77.90 million for the quarter, compared to the consensus estimate of $77.84 million. Chatham Lodging Trust (REIT) had a return on equity of 3.76% and a net margin of 8.73%. Chatham Lodging Trust (REIT)’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. Equities analysts forecast that Chatham Lodging Trust will post $0.59 EPS for the current year.
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A number of brokerages have weighed in on CLDT. Zacks Investment Research upgraded shares of Chatham Lodging Trust (REIT) from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Friday. BidaskClub upgraded shares of Chatham Lodging Trust (REIT) from a “hold” rating to a “buy” rating in a research report on Tuesday. Cantor Fitzgerald reiterated a “hold” rating and set a $20.00 target price on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, September 21st. Janney Montgomery Scott began coverage on shares of Chatham Lodging Trust (REIT) in a research report on Friday, September 15th. They set a “neutral” rating and a $21.00 target price for the company. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $19.50 target price on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, September 7th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $20.92.
In other news, Director Robert D. Perlmutter sold 2,566 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $20.37, for a total value of $52,269.42. Following the sale, the director now directly owns 33,258 shares of the company’s stock, valued at $677,465.46. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.60% of the company’s stock.
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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