Chatham Lodging (NYSE:CLDT) announced a monthly dividend on Thursday, May 10th, Zacks reports. Shareholders of record on Thursday, May 31st will be paid a dividend of 0.11 per share by the real estate investment trust on Friday, June 29th. This represents a $1.32 annualized dividend and a yield of 6.38%. The ex-dividend date of this dividend is Wednesday, May 30th.
Chatham Lodging has raised its dividend payment by an average of 12.8% per year over the last three years and has raised its dividend every year for the last 3 years. Chatham Lodging has a dividend payout ratio of 61.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Chatham Lodging to earn $1.97 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 67.0%.
Get Chatham Lodging alerts:Shares of CLDT stock opened at $20.69 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.39 and a quick ratio of 1.39. The company has a market cap of $941.74 million, a price-to-earnings ratio of 9.67 and a beta of 1.06. Chatham Lodging has a 12-month low of $17.90 and a 12-month high of $23.91.
Chatham Lodging (NYSE:CLDT) last issued its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.29). The company had revenue of $74.03 million for the quarter, compared to analyst estimates of $70.78 million. Chatham Lodging had a return on equity of 3.69% and a net margin of 9.12%. sell-side analysts anticipate that Chatham Lodging will post 1.93 EPS for the current fiscal year.
In other news, Chairman Jeffrey H. Fisher acquired 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average cost of $18.48 per share, with a total value of $101,640.00. Following the completion of the purchase, the chairman now directly owns 691,545 shares of the company’s stock, valued at approximately $12,779,751.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director C Gerald Goldsmith acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 5th. The stock was purchased at an average cost of $18.32 per share, for a total transaction of $91,600.00. Following the completion of the purchase, the director now directly owns 26,328 shares of the company’s stock, valued at $482,328.96. The disclosure for this purchase can be found here. Insiders purchased 14,715 shares of company stock worth $270,485 over the last three months. 3.40% of the stock is currently owned by insiders.
CLDT has been the topic of several recent research reports. Zacks Investment Research raised shares of Chatham Lodging from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 20th. B. Riley lowered their target price on shares of Chatham Lodging from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Stifel Nicolaus reaffirmed a “hold” rating and set a $20.00 target price on shares of Chatham Lodging in a report on Tuesday, February 27th. Barclays lowered their target price on shares of Chatham Lodging from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 27th. Finally, Cantor Fitzgerald set a $20.00 target price on shares of Chatham Lodging and gave the stock a “hold” rating in a report on Thursday, March 1st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $20.83.
About Chatham Lodging
Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 135 hotels totaling 18,516 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,018 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,498 rooms/suites.
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