Chatham Lodging Trust (CLDT) to Issue Quarterly Dividend of $0.07 on October 15th

Chatham Lodging Trust (NYSE:CLDT) declared a quarterly dividend on Wednesday, September 4th, Zacks reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.07 per share by the real estate investment trust on Tuesday, October 15th. This represents a $0.28 annualized dividend and a dividend yield of 3.44%. The ex-dividend date is Monday, September 30th.

Chatham Lodging Trust has a payout ratio of -254.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Chatham Lodging Trust to earn $1.14 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 24.6%.

Chatham Lodging Trust Price Performance

Shares of NYSE:CLDT opened at $8.15 on Friday. The company has a market cap of $398.36 million, a P/E ratio of -67.88 and a beta of 1.80. The business has a fifty day simple moving average of $8.45 and a 200-day simple moving average of $9.04. Chatham Lodging Trust has a 52 week low of $7.60 and a 52 week high of $11.32. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.39.

Chatham Lodging Trust (NYSE:CLDT) last issued its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.26). The business had revenue of $86.48 million during the quarter, compared to analysts’ expectations of $85.48 million. During the same quarter last year, the firm posted $0.43 earnings per share. Equities research analysts forecast that Chatham Lodging Trust will post 1.07 EPS for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th.

Insider Buying and Selling

In other news, COO Dennis M. Craven acquired 12,000 shares of the stock in a transaction on Monday, June 10th. The stock was bought at an average price of $7.88 per share, with a total value of $94,560.00. Following the completion of the transaction, the chief operating officer now directly owns 110,943 shares of the company’s stock, valued at $874,230.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.50% of the stock is currently owned by corporate insiders.

About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,915 rooms/suites in 16 states and the District of Columbia.