Chatham Lodging Trust (NYSE:CLDT – Get Free Report) updated its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.330-0.360 for the period, compared to the consensus estimate of 0.420. The company issued revenue guidance of $84.3 million-$85.4 million, compared to the consensus revenue estimate of $86.4 million.
Analysts Set New Price Targets
Separately, Barclays lowered their price objective on Chatham Lodging Trust from $13.00 to $12.00 and set an overweight rating for the company in a research note on Wednesday, April 17th.
Check Out Our Latest Stock Analysis on CLDT
Chatham Lodging Trust Stock Performance
Chatham Lodging Trust (NYSE:CLDT – Get Free Report) last announced its earnings results on Tuesday, February 27th. The real estate investment trust reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.38). The business had revenue of $72.28 million for the quarter, compared to analysts’ expectations of $70.46 million. Chatham Lodging Trust had a net margin of 0.85% and a return on equity of 0.33%. During the same period in the prior year, the business earned $0.20 earnings per share. Sell-side analysts anticipate that Chatham Lodging Trust will post 1.15 earnings per share for the current fiscal year.
Chatham Lodging Trust Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.07 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.14%. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently -254.55%.
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.
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