Chatham Lodging Trust (NYSE:CLDT) Releases Quarterly Earnings Results, Misses Estimates By $0.26 EPS

Chatham Lodging Trust (NYSE:CLDT) posted its quarterly earnings results on Friday. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.26), Zacks reports. The business had revenue of $86.48 million during the quarter, compared to the consensus estimate of $85.48 million. Chatham Lodging Trust had a net margin of 0.73% and a return on equity of 0.28%. During the same period last year, the firm earned $0.43 EPS. Chatham Lodging Trust updated its Q3 2024 guidance to 0.310-0.360 EPS.

Chatham Lodging Trust Price Performance

Shares of NYSE:CLDT traded down $0.07 on Friday, hitting $8.60. The company’s stock had a trading volume of 342,787 shares, compared to its average volume of 354,722. The company has a market capitalization of $420.63 million, a PE ratio of -71.67 and a beta of 1.80. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.25 and a quick ratio of 3.25. The company has a 50-day simple moving average of $8.56 and a 200 day simple moving average of $9.44. Chatham Lodging Trust has a 1 year low of $7.60 and a 1 year high of $11.32.

Chatham Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.28 dividend on an annualized basis and a yield of 3.26%. Chatham Lodging Trust’s dividend payout ratio is currently -233.33%.

Insider Transactions at Chatham Lodging Trust

In related news, COO Dennis M. Craven bought 12,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was acquired at an average cost of $7.88 per share, for a total transaction of $94,560.00. Following the completion of the transaction, the chief operating officer now directly owns 110,943 shares in the company, valued at approximately $874,230.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.50% of the stock is owned by insiders.

Analysts Set New Price Targets

CLDT has been the topic of several recent research reports. Barclays dropped their target price on Chatham Lodging Trust from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. StockNews.com raised Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, July 11th.

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.