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

Chatham Lodging Trust (NYSE:CLDT) announced a quarterly dividend on Wednesday, December 11th,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 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Tuesday, December 31st.

Chatham Lodging Trust has a dividend 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. 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 Up 0.4 %

Shares of CLDT traded up $0.04 during trading on Wednesday, reaching $9.91. 119,693 shares of the company traded hands, compared to its average volume of 376,612. Chatham Lodging Trust has a twelve month low of $7.60 and a twelve month high of $11.32. The stock has a market cap of $484.70 million, a PE ratio of -42.91 and a beta of 1.82. The stock has a 50-day simple moving average of $8.75 and a 200-day simple moving average of $8.56. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Alliance Global Partners initiated coverage on shares of Chatham Lodging Trust in a research report on Wednesday. They set a “buy” rating and a $12.00 price target for the company. StockNews.com upgraded shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research note 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.