Chatham Lodging Trust (REIT) Plans Quarterly Dividend of $0.10 (NYSE:CLDT)

Chatham Lodging Trust (REIT) (NYSE:CLDT) declared a quarterly dividend on Friday, June 5th. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.10 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Tuesday, June 30th.

Chatham Lodging Trust has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 2 years. Chatham Lodging Trust has a dividend payout ratio of 800.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Chatham Lodging Trust to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 29.9%.

Chatham Lodging Trust Stock Up 1.0%

CLDT traded up $0.11 on Friday, hitting $11.41. The company had a trading volume of 481,021 shares, compared to its average volume of 318,296. The stock has a fifty day moving average price of $9.27 and a 200-day moving average price of $7.91. Chatham Lodging Trust has a 12-month low of $6.08 and a 12-month high of $11.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $532.68 million, a price-to-earnings ratio of 570.55 and a beta of 1.12.

Analyst Ratings Changes

CLDT has been the topic of a number of research analyst reports. Zacks Research lowered Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a research note on Friday, May 8th. Weiss Ratings upgraded Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Finally, Stifel Nicolaus set a $13.00 price target on Chatham Lodging Trust in a research note on Friday. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Chatham Lodging Trust Company Profile

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.