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

Chatham Lodging Trust (NYSE:CLDT) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of 0.330-0.360 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

Separately, Barclays cut their target price on shares of 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.

Chatham Lodging Trust Price Performance

Shares of NYSE CLDT opened at $9.00 on Thursday. The business’s 50 day moving average price is $9.76 and its 200 day moving average price is $10.12. The firm has a market cap of $440.14 million, a P/E ratio of -75.00 and a beta of 1.74. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.49. Chatham Lodging Trust has a 52 week low of $8.62 and a 52 week 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) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.38). Chatham Lodging Trust had a return on equity of 0.33% and a net margin of 0.85%. The company had revenue of $72.28 million for the quarter, compared to analyst estimates of $70.46 million. During the same period last year, the business earned $0.20 earnings per share. On average, sell-side analysts expect that Chatham Lodging Trust will post 1.15 earnings per share for the current year.

Chatham Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.11%. Chatham Lodging Trust’s dividend payout ratio (DPR) is -233.33%.

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.