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Chatham: Monthly Income from Upscale Hotels

05/01/2017 2:50 am EST

Focus: REITS

John Dobosz

Editor, Forbes Premium Income Report and Forbes Dividend Investor

Chatham Lodging Trust (CLDT) is a Real Estate Investment Trust that is growing its dividend at a double-digit pace, notes growth and income expert John Dobosz, editor of Forbes Dividend Investor.

Founded in 2009, West Palm Beach, Fla.-based REITinvests in upscale, extended-stay hotels and premium-branded, select-service hotels. 

Chatham Lodging owns interests in 133 hotels totaling 18,210 rooms and suites, with 38 wholly owned properties that have 5,712 rooms and suites in 15 states and the District of Columbia. It also has minority stakes in two joint ventures that own 95 hotels with 12,498 rooms.

Funds from operations have grown at a 66.9% compound annual rate over the past five years, but dipped 3.5% last year. Dividends have grown 13.2% a year over the past five years, and rose 8.3% in 2016. 

Chatham’s strong value characteristics (discounts to average historical valuation multiples) make it a compelling buy.

Chatham is one of 35 U.S. companies that pay monthly dividends. The current monthly payout is $0.11 per share. The shares have a current yield of 6.33%. Earnings are due out on May 9.

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