Chatham Lodging Trust (NYSE:CLDT) to Issue $0.07 Quarterly Dividend

Chatham Lodging Trust (NYSE:CLDT) declared a quarterly dividend on Tuesday, December 10th,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, December 31st.

Chatham Lodging Trust has a 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 Stock Up 0.2 %

Chatham Lodging Trust stock traded up $0.02 during trading hours on Wednesday, hitting $9.89. The stock had a trading volume of 364,950 shares, compared to its average volume of 377,676. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $483.72 million, a P/E ratio of -42.95 and a beta of 1.82. Chatham Lodging Trust has a 12-month low of $7.60 and a 12-month high of $11.32. The stock’s 50-day moving average price is $8.75 and its 200-day moving average price is $8.56.

Analyst Ratings Changes

Several research analysts have issued reports 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. Alliance Global Partners assumed coverage on shares of Chatham Lodging Trust in a report on Wednesday. They issued a “buy” rating and a $12.00 target price 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.