Chatham Lodging Trust (NYSE:CLDT) Issues Q2 2024 Earnings Guidance

Chatham Lodging Trust (NYSE:CLDT) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 0.330-0.360 for the period, compared to the consensus estimate of 0.420. The company issued revenue guidance of $84.3 million-$85.4 million, compared to the consensus revenue estimate of $86.4 million.

Chatham Lodging Trust Trading Up 0.1 %

NYSE:CLDT opened at $9.18 on Monday. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.49. The company has a 50 day simple moving average of $9.82 and a two-hundred day simple moving average of $10.14. Chatham Lodging Trust has a 12 month low of $8.92 and a 12 month high of $11.32.

Chatham Lodging Trust (NYSE:CLDT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.38). The firm had revenue of $72.28 million during the quarter, compared to the consensus estimate of $70.46 million. Chatham Lodging Trust had a net margin of 0.85% and a return on equity of 0.33%. During the same period in the prior year, the company posted $0.20 EPS. Sell-side analysts expect that Chatham Lodging Trust will post 1.15 earnings per share for the current fiscal year.

Chatham Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.07 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a yield of 3.05%. Chatham Lodging Trust’s dividend payout ratio is currently -254.55%.

Analyst Ratings Changes

Separately, Barclays lowered their price target on shares of Chatham Lodging Trust from $13.00 to $12.00 and set an overweight rating on the stock in a report on Wednesday, April 17th.

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.