Chatham Lodging Trust (CLDT) to Issue Quarterly Dividend of $0.07 on January 15th

Chatham Lodging Trust (NYSE:CLDT) announced a quarterly dividend on Tuesday, December 10th,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 3.12%. 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 research 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 Trading Down 3.1 %

Shares of NYSE CLDT opened at $8.98 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 0.96. Chatham Lodging Trust has a 52-week low of $7.60 and a 52-week high of $11.10. The stock has a market cap of $439.22 million, a P/E ratio of -39.04 and a beta of 1.82. The firm has a 50 day moving average price of $8.99 and a two-hundred day moving average price of $8.64.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners started coverage on Chatham Lodging Trust in a report on Wednesday, December 11th. They set a “buy” rating and a $12.00 target price on the 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.