Chatham Lodging (NYSE:CLDT) announced a monthly dividend on Wednesday, April 11th, Wall Street Journal reports. Shareholders of record on Monday, April 30th will be given a dividend of 0.11 per share by the real estate investment trust on Friday, May 25th. This represents a $1.32 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date of this dividend is Friday, April 27th.
Chatham Lodging has raised its dividend payment by an average of 12.8% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Chatham Lodging has a dividend payout ratio of 61.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Chatham Lodging to earn $1.91 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 69.1%.
CLDT opened at $19.24 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 1.28. Chatham Lodging has a 52 week low of $17.90 and a 52 week high of $23.91. The firm has a market cap of $882.50, a price-to-earnings ratio of 8.83 and a beta of 1.07.
Chatham Lodging (NYSE:CLDT) last released its earnings results on Monday, February 26th. The real estate investment trust reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.02). Chatham Lodging had a return on equity of 4.11% and a net margin of 9.86%. The business had revenue of $70.32 million for the quarter, compared to analyst estimates of $68.50 million. During the same period in the prior year, the firm posted $0.44 EPS. Chatham Lodging’s revenue was up 6.2% on a year-over-year basis. equities analysts expect that Chatham Lodging will post 1.91 EPS for the current year.
A number of analysts have commented on the stock. Zacks Investment Research raised shares of Chatham Lodging from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 20th. ValuEngine raised shares of Chatham Lodging from a “hold” rating to a “buy” rating in a report on Saturday, March 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $20.00 target price on shares of Chatham Lodging in a report on Tuesday, February 27th. B. Riley lowered their target price on shares of Chatham Lodging from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Finally, Barclays lowered their target price on shares of Chatham Lodging from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $21.00.
In other news, Chairman Jeffrey H. Fisher purchased 5,500 shares of Chatham Lodging stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost of $18.48 per share, with a total value of $101,640.00. Following the completion of the transaction, the chairman now directly owns 691,545 shares in the company, valued at approximately $12,779,751.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director C Gerald Goldsmith purchased 5,000 shares of Chatham Lodging stock in a transaction dated Monday, March 5th. The shares were purchased at an average cost of $18.32 per share, for a total transaction of $91,600.00. Following the completion of the transaction, the director now owns 26,328 shares of the company’s stock, valued at $482,328.96. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 14,715 shares of company stock worth $270,485. Insiders own 3.40% of the company’s stock.
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About Chatham Lodging
Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 135 hotels totaling 18,516 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,018 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,498 rooms/suites.
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