Chatham Lodging Trust (CLDT) to Issue Monthly Dividend of $0.11

Chatham Lodging Trust (NYSE:CLDT) announced a monthly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Friday, May 31st will be given a dividend of 0.11 per share by the real estate investment trust on Friday, June 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date of this dividend is Thursday, May 30th.

Chatham Lodging Trust has increased its dividend by an average of 3.8% per year over the last three years. Chatham Lodging Trust has a dividend payout ratio of 68.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Chatham Lodging Trust to earn $1.86 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 71.0%.

CLDT opened at $19.88 on Friday. Chatham Lodging Trust has a one year low of $17.29 and a one year high of $22.18. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $928.41 million, a PE ratio of 10.19 and a beta of 1.22.

Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.29). Chatham Lodging Trust had a return on equity of 3.64% and a net margin of 8.92%. The firm had revenue of $75.68 million during the quarter, compared to the consensus estimate of $73.69 million. On average, research analysts forecast that Chatham Lodging Trust will post 1.86 EPS for the current year.

In other news, Director C Gerald Goldsmith sold 3,300 shares of the business’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $19.67, for a total transaction of $64,911.00. Following the sale, the director now directly owns 24,015 shares of the company’s stock, valued at $472,375.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.60% of the stock is owned by insiders.

A number of research firms have recently commented on CLDT. Zacks Investment Research raised Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. B. Riley set a $20.00 price objective on Chatham Lodging Trust and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Finally, TheStreet downgraded Chatham Lodging Trust from a “b” rating to a “c+” rating in a research note on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $20.00.

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About Chatham Lodging Trust

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 137 hotels totaling 18,783 rooms/suites, comprised of 42 properties it wholly owns with an aggregate of 6,283 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 12,500 rooms/suites.

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Dividend History for Chatham Lodging Trust (NYSE:CLDT)

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