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

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

Chatham Lodging Trust Stock Performance

Chatham Lodging Trust stock traded down $0.07 during mid-day trading on Friday, reaching $8.60. 342,787 shares of the company’s stock were exchanged, compared to its average volume of 354,722. The business’s fifty day simple moving average is $8.56 and its 200 day simple moving average is $9.44. The firm has a market capitalization of $420.63 million, a PE ratio of -71.67 and a beta of 1.80. Chatham Lodging Trust has a one year low of $7.60 and a one year high of $11.32. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.49.

Chatham Lodging Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a dividend of $0.07 per share. The ex-dividend date 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 (DPR) is currently -233.33%.

Insider Buying and Selling

In other Chatham Lodging Trust news, COO Dennis M. Craven purchased 12,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $7.88 per share, for a total transaction of $94,560.00. Following the completion of the acquisition, the chief operating officer now owns 110,943 shares of the company’s stock, valued at approximately $874,230.84. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. StockNews.com upgraded Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Barclays dropped their price target on 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.