Chatham Lodging Stock Price, News & Analysis

Chatham Lodging Trust (NYSE: CLDT) has released its 2023 Corporate Responsibility Report supplement, highlighting several key developments. Firstly, the company has set 2030 environmental reduction targets aimed at sustainability. Additionally, it achieved positive results in its inaugural GRESB participation, indicating strong performance in environmental, social, and governance factors. Moreover, Chatham is committed to increasing its female representation on the Board of Trustees to at least 30% by 2025, currently standing at 29% overall and 33% among independent Trustees. The 2021 environmental data has also received third-party verification, enhancing credibility in its reporting. More information and materials can be accessed on the company’s website.

Chatham Lodging Trust (NYSE:CLDT) will announce its first quarter 2023 financial results on May 4, 2023, before the market opens. Following this, a conference call featuring key executives will occur at 1:00 p.m. ET to discuss the results. Interested parties can access the call via a webcast on Chatham's website or by phone. The company, focused on upscale, extended-stay hotels and premium-branded, select-service hotels, owns 39 hotels totaling 5,914 rooms/suites across 16 states and the District of Columbia. A recording of the call will be available until May 11, 2023. More details can be found at chathamlodgingtrust.com.

Chatham Lodging Trust (NYSE: CLDT) has declared a quarterly common share dividend of $0.07 and a preferred share dividend of $0.41406. These dividends are payable on April 17, 2023, to shareholders of record as of March 31, 2023. The company, focused on upscale, extended-stay hotels, owns 39 hotels with a total of 5,914 rooms/suites across 16 states and the District of Columbia. The announcement emphasizes the company’s commitment to returning value to its shareholders.

Chatham Lodging Trust (NYSE: CLDT) has scheduled its 2023 annual meeting of shareholders for May 18, 2023, at 10:00 a.m. EDT in West Palm Beach, Florida. Shareholders entitled to vote will be determined by the close of business on March 20, 2023. Chatham Lodging Trust specializes in investing in upscale extended-stay and premium-branded select-service hotels, owning 39 hotels with a total of 5,914 rooms across 16 states and the District of Columbia. For more information, visit chathamlodgingtrust.com.

Chatham Lodging Trust (NYSE: CLDT) reported strong fourth-quarter results for 2022, showcasing a 24% increase in RevPAR to $117. The average daily rate rose by 20% to $171, while occupancy improved 3% to 69% compared to the previous year. The company incurred a net loss of $4.0 million, a significant reduction from a $13.2 million loss in Q4 2021. Adjusted EBITDA surged 34% to $20.4 million, while adjusted funds from operations (FFO) advanced 68% to $10.2 million. Chatham successfully refinanced its credit facilities, enhancing financial flexibility. The company also reinstated a common dividend of $0.07 per share, reflecting confidence in 2023's performance.

Chatham Lodging Trust (NYSE: CLDT) has announced the full repayment of three mortgages totaling $73.3 million, which had an average interest rate of 8.0%. This repayment was facilitated by a new term loan with a significantly lower interest rate of 6.1%. The loans were repaid for properties including Home2 Suites Woodland Hills and Residence Inn Tysons Corner. The company is set to draw $90 million from its unsecured term loan by late April. CFO Jeremy Wegner noted that this refinancing solidifies the balance sheet and reduces interest costs.

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.