Chatham Lodging Trust (REIT) (NYSE:CLDT) declared a monthly dividend on Thursday, January 11th, Wall Street Journal reports. Stockholders of record on Wednesday, January 31st will be given a dividend of 0.11 per share by the real estate investment trust on Friday, February 23rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.78%. The ex-dividend date is Tuesday, January 30th.
Chatham Lodging Trust has increased its dividend by an average of 12.8% annually over the last three years and has raised its dividend every year for the last 3 years. Chatham Lodging Trust has a dividend payout ratio of 61.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Chatham Lodging Trust to earn $2.15 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 61.4%.
Chatham Lodging Trust (NYSE:CLDT) traded up $0.23 during midday trading on Thursday, hitting $22.83. 254,792 shares of the stock were exchanged, compared to its average volume of 320,374. Chatham Lodging Trust has a 1-year low of $18.66 and a 1-year high of $23.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $922.90, a P/E ratio of 34.07 and a beta of 1.06.
Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly 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. Chatham Lodging Trust had a net margin of 9.03% and a return on equity of 3.90%. The business had revenue of $81.40 million for the quarter, compared to the consensus estimate of $80.12 million. During the same period in the prior year, the business posted $0.71 earnings per share. Chatham Lodging Trust’s revenue for the quarter was up 2.1% compared to the same quarter last year. analysts anticipate that Chatham Lodging Trust will post 2.16 EPS for the current fiscal year.
A number of equities research analysts recently issued reports on CLDT shares. Zacks Investment Research upgraded shares of Chatham Lodging Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Friday, October 6th. Barclays reiterated a “hold” rating and issued a $23.00 price objective on shares of Chatham Lodging Trust in a report on Friday, December 15th. BidaskClub cut shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Janney Montgomery Scott started coverage on shares of Chatham Lodging Trust in a report on Friday, September 15th. They issued a “neutral” rating and a $21.00 price objective for the company. Finally, Cantor Fitzgerald reiterated a “hold” rating and issued a $20.00 price objective on shares of Chatham Lodging Trust in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.25.
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About Chatham Lodging Trust
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). The Company owned 40 hotels with an aggregate of 5,939 rooms located in 16 states and the District of Columbia.
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