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

Chatham Lodging Trust (NYSE:CLDTGet Free Report) declared a quarterly dividend on Thursday, June 6th, Zacks reports. Shareholders of record on Friday, June 28th will be paid a dividend of 0.07 per share by the real estate investment trust on Monday, July 15th. This represents a $0.28 annualized dividend and a yield of 3.27%. The ex-dividend date of this dividend is Friday, June 28th.

Chatham Lodging Trust has a dividend payout ratio of -400.0% meaning 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 1.7 %

NYSE:CLDT opened at $8.57 on Friday. The firm has a 50-day simple moving average of $9.16 and a 200-day simple moving average of $9.98. Chatham Lodging Trust has a one year low of $8.23 and a one year high of $11.32. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.25 and a current ratio of 3.25.

Analyst Ratings Changes

Separately, Barclays reduced their price objective on shares of Chatham Lodging Trust from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, April 17th.

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About Chatham Lodging Trust

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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.

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Dividend History for Chatham Lodging Trust (NYSE:CLDT)

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