Chatham Lodging Trust (REIT) (NYSE:CLDT) Stock to Pay Quarterly Dividend of $0.10

Chatham Lodging Trust (REIT) (NYSE:CLDT) declared a quarterly dividend on Thursday, November 5th. Shareholders of record on Wednesday, December 30th will be paid a dividend of $0.10 per share by the real estate investment trust on Friday, January 15th. This represents a $0.40 annualized dividend and a yield of 2.6%. The ex-dividend date is Wednesday, December 30th.

Chatham Lodging Trust has raised its dividend payment by an average of 0.1% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Chatham Lodging Trust has a 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. Equities research analysts expect Chatham Lodging Trust to earn $1.40 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 28.6%.

Chatham Lodging Trust Trading Up 1.0%

Shares of CLDT stock traded up $0.15 on Friday, hitting $15.25. The company had a trading volume of 14,980 shares, compared to its average volume of 345,848. The firm has a market cap of $711.96 million, a P/E ratio of 188.71 and a beta of 1.11. The stock’s 50-day moving average is $13.68 and its two-hundred day moving average is $11.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.72 and a current ratio of 0.72. Chatham Lodging Trust has a twelve month low of $6.38 and a twelve month high of $15.76.

Chatham Lodging Trust (NYSE:CLDT) last announced its earnings results on Tuesday, August 4th. The real estate investment trust reported $0.13 EPS for the quarter, beating the consensus estimate of $0.11 by $0.02. Chatham Lodging Trust had a return on equity of 1.56% and a net margin of 4.00%. The business had revenue of $87.80 million for the quarter, compared to analysts’ expectations of $82.01 million. On average, equities research analysts anticipate that Chatham Lodging Trust will post 1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Chatham Lodging Trust during the second quarter valued at about $118,707,000. Donald Smith & CO. Inc. purchased a new position in shares of Chatham Lodging Trust in the 2nd quarter worth about $52,587,000. Bank of America Corp DE bought a new position in shares of Chatham Lodging Trust during the 2nd quarter valued at about $4,978,000. Hsbc Holdings PLC bought a new position in shares of Chatham Lodging Trust during the 2nd quarter valued at about $4,537,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Chatham Lodging Trust during the 2nd quarter valued at about $2,953,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Chatham Lodging Trust Company Profile

Chatham Lodging Trust was a real estate investment trust that owned and operated upscale hotels and premium-branded select-service hotels in the United States. Its portfolio included properties affiliated with nationally recognized hotel brands, serving business and leisure travelers in urban, suburban and resort-oriented markets.

The company’s lodging portfolio included full-service and select-service hotels operating under brands such as Hilton, Marriott and Hyatt. Chatham focused on acquiring, owning and enhancing hotel properties, while working with third-party management companies to oversee day-to-day operations.

Founded in 2009 and based in New York, Chatham Lodging Trust became a publicly traded company on the New York Stock Exchange in 2010.