Chatham Lodging Trust (NYSE:CLDT) Issues Q2 2024 Earnings Guidance

Chatham Lodging Trust (NYSE:CLDT) issued an update on 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.

Chatham Lodging Trust Price Performance

CLDT stock traded up $0.15 during trading on Tuesday, hitting $9.17. 23,488 shares of the stock traded hands, compared to its average volume of 224,995. The stock has a market cap of $448.41 million, a price-to-earnings ratio of -82.00 and a beta of 1.74. Chatham Lodging Trust has a one year low of $8.62 and a one year high of $11.32. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.49. The company has a 50 day simple moving average of $9.80 and a 200 day simple moving average of $10.13.

Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.38). Chatham Lodging Trust had a return on equity of 0.33% and a net margin of 0.85%. The business had revenue of $72.28 million during the quarter, compared to analyst estimates of $70.46 million. During the same period in the prior year, the firm posted $0.20 EPS. Equities analysts expect that Chatham Lodging Trust will post 1.15 EPS for the current fiscal year.

Chatham Lodging Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.05%. Chatham Lodging Trust’s payout ratio is currently -254.55%.

Analyst Upgrades and Downgrades

Separately, Barclays decreased their price objective on Chatham Lodging Trust from $13.00 to $12.00 and set an overweight rating for the company in a research report on Wednesday, April 17th.

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.