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

Chatham Lodging Trust (REIT) (NYSE:CLDT) declared a quarterly dividend on Tuesday, September 9th. Stockholders of record on Tuesday, September 30th will be given 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 dividend yield of 5.0%. The ex-dividend date is Tuesday, September 30th.

Chatham Lodging Trust has a dividend 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. 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 2.3%

NYSE:CLDT opened at $7.15 on Wednesday. Chatham Lodging Trust has a fifty-two week low of $5.83 and a fifty-two week high of $10.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $350.21 million, a PE ratio of 238.33 and a beta of 1.39. The business’s 50-day simple moving average is $7.21 and its 200-day simple moving average is $7.20.

Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Chatham Lodging Trust had a return on equity of 1.19% and a net margin of 3.04%.The business had revenue of $80.29 million for the quarter, compared to analysts’ expectations of $79.67 million. Sell-side analysts expect that Chatham Lodging Trust will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Chatham Lodging Trust

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Chatham Lodging Trust by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,119 shares of the real estate investment trust’s stock valued at $400,000 after acquiring an additional 19,679 shares in the last quarter. Northern Trust Corp lifted its stake in Chatham Lodging Trust by 8.0% in the 4th quarter. Northern Trust Corp now owns 506,353 shares of the real estate investment trust’s stock valued at $4,532,000 after acquiring an additional 37,574 shares in the last quarter. Bank of America Corp DE lifted its stake in Chatham Lodging Trust by 9.5% in the 4th quarter. Bank of America Corp DE now owns 682,486 shares of the real estate investment trust’s stock valued at $6,108,000 after acquiring an additional 58,943 shares in the last quarter. Man Group plc bought a new stake in Chatham Lodging Trust in the 4th quarter valued at approximately $682,000. Finally, Nuveen LLC bought a new stake in Chatham Lodging Trust in the 1st quarter valued at approximately $1,406,000. Institutional investors own 88.37% of the company’s stock.

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.