Chatham Lodging Trust Announces Quarterly Dividend of $0.07 (NYSE:CLDT)

Chatham Lodging Trust (NYSE:CLDT) announced a quarterly dividend on Wednesday, December 11th,Wall Street Journal reports. Investors of record on Tuesday, December 31st will be given a dividend of 0.07 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.28 annualized dividend and a yield of 2.83%. The ex-dividend date is Tuesday, December 31st.

Chatham Lodging Trust has a dividend payout ratio of -233.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Chatham Lodging Trust to earn $1.14 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 24.6%.

Chatham Lodging Trust Stock Performance

CLDT stock traded up $0.04 during midday trading on Wednesday, hitting $9.91. 119,693 shares of the stock traded hands, compared to its average volume of 376,612. The firm has a market cap of $484.70 million, a P/E ratio of -42.91 and a beta of 1.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day simple moving average is $8.75 and its 200-day simple moving average is $8.56. Chatham Lodging Trust has a 1-year low of $7.60 and a 1-year high of $11.32.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CLDT. Alliance Global Partners began coverage on shares of Chatham Lodging Trust in a report on Wednesday. They set a “buy” rating and a $12.00 price objective on the stock. StockNews.com raised shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th.

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.