CHATHAM LODGING TRUST - CLDT STOCK NEWS

Chatham Lodging Trust (NYSE: CLDT), a lodging REIT focused on upscale extended-stay and select-service hotels, has announced the tax characterization of dividends declared in 2022 for federal income tax reporting. The dividends include $0.41406 per share for Series A Preferred shares paid quarterly and $0.07000 per share for common stock. The record dates for the dividends were on 3/31/22, 6/30/22, 9/30/22, and 12/30/22, with payment dates following on 4/18/22, 7/15/22, 10/17/22, and 1/17/23. No portion of these dividends represented foreign taxes or qualified dividend income. Shareholders will receive IRS Form 1099-DIV for tax reporting.

Chatham Lodging Trust (NYSE: CLDT), a real estate investment trust focusing on upscale extended-stay and select-service hotels, will report its fourth quarter 2022 financial results on February 23, 2023, before market opening. A conference call will be held on the same day at 10:00 a.m. ET with CEO Jeffrey H. Fisher and other executives discussing the results. The call is accessible via Chatham’s website or by phone. Chatham owns interests in 39 hotels across 16 states and the District of Columbia, totaling 5,914 rooms/suites.

Chatham Lodging Trust (NYSE: CLDT) announced an increase of $45 million in its senior unsecured revolving credit facility with Royal Bank of Canada. This raises the total to $260 million, complemented by a $90 million term loan, totaling $350 million to replace its previous $250 million facility maturing in 2023. The new agreements extend to October 2027 and provide Chatham flexibility for managing maturing debt and pursuing hotel acquisitions. There are currently no outstanding borrowings on these facilities.

Chatham Lodging Trust (NYSE: CLDT) has announced the reinstatement of its common dividend, declaring $0.07 per share for Q4 2022, marking the first dividend since early 2020. The dividend is payable on January 17, 2023, to shareholders of record as of December 30, 2022. The company highlighted its strong recovery, achieving approximately $32 million in free cash flow since April 2020 and reducing net debt by $323 million or 42% since March 31, 2020. Chatham aims to pay regular quarterly dividends in 2023, confident in the recovery of business travel.

Chatham Lodging Trust (NYSE: CLDT) reported strong third quarter 2022 results, with RevPAR increasing 34% to $150, surpassing 2019 levels. Key metrics include a net income of $12.4 million, a significant rebound from a loss of $1.4 million in Q3 2021, and a GOP margin of 50.1%. Adjusted EBITDA rose to $35.1 million while Adjusted FFO jumped to $25.2 million. The company achieved an occupancy rate of 80% across its portfolio. With improved financial flexibility, Chatham remains poised to capitalize on business travel recovery, supported by a new $215 million revolving credit facility.

Chatham Lodging Trust (NYSE: CLDT) has successfully refinanced its senior unsecured revolving credit facility and secured a new unsecured term loan. The new $215 million credit facility and $90 million term loan extend maturity to October 2027. Chatham's improved financial position includes a 40% reduction in net debt since the pandemic, allowing for future cash flow generation. Currently, there are no outstanding borrowings, and the facilities provide flexibility for asset acquisition.

Chatham Lodging Trust (NYSE: CLDT) announced it will release its third quarter 2022 financial results on November 8, 2022, before market opening. A conference call will follow at 10:00 a.m. ET featuring CEO Jeffrey H. Fisher, COO Dennis M. Craven, and CFO Jeremy Wegner. Interested parties can access the call via the company's website or by telephone. Chatham Lodging Trust operates 39 hotels with 5,914 rooms across 16 states and the District of Columbia.

Chatham Lodging Trust (NYSE: CLDT; CLDT-PA) has declared a preferred share dividend of $0.41406 per share, payable on October 17, 2022, to shareholders on record as of September 30, 2022. The company operates in the upscale and extended-stay hotel markets, owning 39 properties across 16 states and the District of Columbia, totaling 5,914 rooms/suites.

Chatham Lodging Trust (NYSE: CLDT) reported strong second-quarter 2022 results, achieving a net income of $9.3 million, a significant improvement from a $8.7 million loss in Q2 2021. RevPAR rose by 50% to $138, while average daily rate (ADR) increased 36% to $179. GOP margins improved to 49.2%, up from 43.1% last year. Adjusted EBITDA reached $31.1 million, up from $12.5 million. The company sold four hotels for approximately $80 million, enhancing its portfolio value. Overall, the results indicate a rebound in business travel and a strengthened financial position.