Chatham Lodging Trust (NYSE:CLDT) Announces Quarterly Dividend of $0.09

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) announced a quarterly dividend on Wednesday, June 4th, RTT News reports. Investors of record on Monday, June 30th will be paid a dividend of 0.09 per share by the real estate investment trust on Tuesday, July 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Monday, June 30th. This is a 350.0% increase from Chatham Lodging Trust's previous quarterly dividend of $0.02.

Chatham Lodging Trust has a payout ratio of 720.0% 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 $1.12 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 32.1%.

Chatham Lodging Trust Trading Down 0.5%

Shares of CLDT traded down $0.04 during mid-day trading on Thursday, reaching $7.03. The stock had a trading volume of 246,354 shares, compared to its average volume of 411,387. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96. Chatham Lodging Trust has a 52-week low of $5.83 and a 52-week high of $10.00. The business's fifty day moving average is $6.92 and its 200 day moving average is $8.06. The firm has a market cap of $344.11 million, a price-to-earnings ratio of -30.54 and a beta of 1.42.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. Chatham Lodging Trust had a negative net margin of 0.99% and a negative return on equity of 0.39%. The firm had revenue of $68.64 million during the quarter, compared to analyst estimates of $67.99 million. On average, sell-side analysts predict that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.

Chatham Lodging Trust declared that its Board of Directors has authorized a stock buyback program on Tuesday, May 6th that authorizes the company to buyback $25.00 million in shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 7.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

CLDT has been the subject of several research analyst reports. Wall Street Zen lowered shares of Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Alliance Global Partners reaffirmed a "buy" rating on shares of Chatham Lodging Trust in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus lowered their target price on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating for the company in a research note on Wednesday, April 16th.

Institutional Trading of Chatham Lodging Trust

Several hedge funds have recently made changes to their positions in CLDT. Royal Bank of Canada lifted its position in shares of Chatham Lodging Trust by 26.7% during the first quarter. Royal Bank of Canada now owns 193,422 shares of the real estate investment trust's stock worth $1,379,000 after purchasing an additional 40,746 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Chatham Lodging Trust by 35.8% during the first quarter. AQR Capital Management LLC now owns 98,409 shares of the real estate investment trust's stock worth $702,000 after purchasing an additional 25,926 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Chatham Lodging Trust by 6.6% during the first quarter. Jane Street Group LLC now owns 289,534 shares of the real estate investment trust's stock worth $2,064,000 after purchasing an additional 18,030 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Chatham Lodging Trust during the first quarter worth about $62,000. Finally, Strs Ohio acquired a new stake in shares of Chatham Lodging Trust during the first quarter worth about $61,000. Institutional investors and hedge funds own 88.37% of the company's stock.

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.