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

Chatham Lodging Trust (NYSE:CLDT) declared a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.07 per share by the real estate investment trust on Wednesday, January 15th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Tuesday, December 31st.

Chatham Lodging Trust has a payout ratio of -233.3% 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 $1.14 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

NYSE CLDT opened at $8.98 on Friday. The company has a market cap of $439.22 million, a P/E ratio of -39.04 and a beta of 1.82. The company has a fifty day simple moving average of $8.99 and a 200 day simple moving average of $8.64. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.37. Chatham Lodging Trust has a 12-month low of $7.60 and a 12-month high of $11.10.

Wall Street Analyst Weigh In

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

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.