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

Key Points

• Chatham Lodging Trust declared a quarterly dividend of $0.09 per share, with an annualized yield of 5.0%, payable on October 15th to shareholders of record by September 30th.
• The company's dividend payout ratio is 720.0%, indicating reliance on its balance sheet for dividend payments, although future earnings are expected to cover the $0.36 annual dividend with a projected payout ratio of 32.1%.
• Chatham Lodging Trust's stock is currently priced at $7.15, with a 52-week range between $5.83 and $10.00, and reported earnings per share of $0.36, exceeding analyst expectations.

Chatham Lodging Trust (REIT) (NYSE:CLDT - Get Free Report) declared a quarterly dividend on Tuesday, September 9th. Investors of record on Tuesday, September 30th will be paid a dividend of 0.09 per share by the real estate investment trust on Wednesday, October 15th. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, September 30th.

Chatham Lodging Trust has a payout ratio of 720.0% meaning 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 $1.12 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 Price Performance

NYSE CLDT traded down $0.14 on Friday, hitting $7.09. 177,762 shares of the company were exchanged, compared to its average volume of 254,180. The firm has a 50 day moving average of $7.20 and a two-hundred day moving average of $7.18. The company has a market cap of $347.27 million, a P/E ratio of 236.33 and a beta of 1.39. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. Chatham Lodging Trust has a 1-year low of $5.83 and a 1-year high of $10.00.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. The business had revenue of $80.29 million for the quarter, compared to the consensus estimate of $79.67 million. Chatham Lodging Trust had a net margin of 3.04% and a return on equity of 1.19%. On average, equities analysts predict that Chatham Lodging Trust will post 1.07 EPS for the current year.

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.