Chatham Lodging Trust (REIT) (CLDT) to Issue Quarterly Dividend of $0.10 on July 15th

Chatham Lodging Trust (REIT) (NYSE:CLDT) announced a quarterly dividend on Friday, June 5th. Shareholders of record on Tuesday, June 30th will be paid a dividend of 0.10 per share by the real estate investment trust on Wednesday, July 15th. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Tuesday, June 30th.

Chatham Lodging Trust has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Chatham Lodging Trust has a dividend payout ratio of 800.0% 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 $1.35 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 29.6%.

Chatham Lodging Trust Price Performance

Shares of NYSE CLDT opened at $11.41 on Friday. Chatham Lodging Trust has a twelve month low of $6.08 and a twelve month high of $11.61. The stock’s 50 day moving average price is $9.34 and its 200-day moving average price is $7.94. The company has a market capitalization of $532.67 million, a PE ratio of 570.55 and a beta of 1.12. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.30.

Analysts Set New Price Targets

CLDT has been the topic of a number of research analyst reports. Stifel Nicolaus set a $13.00 target price on Chatham Lodging Trust in a research note on Friday. Zacks Research downgraded Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings upgraded Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Finally, Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $13.00.

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.