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Chatham Lodging Trust (CLDT)
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Good numbers overall, but I suspect they aren't going to restart their dividend quite yet with them.
Q1 AFFO of $0.07 beats by $0.06.
Revenue of $54.89M (+70.9% Y/Y) beats by $0.81M.
GOP margins grew 27 percent to a portfolio-wide GOP margin of 38 percent in the 2022 first quarter compared to 30 percent in the 2021 first quarter.
Adjusted EBITDA – Jumped to $13.3 million from $1.2 million in the 2021 first quarter.
earnings out. All trending in right direction. I read $38.5 million outstanding on the Warner Center construction loan, which carries a 7.95 percent interest rate.Now that construction done, refi to mortgage at say @ 7.+%. Sems as construction completed it is time to refi to mortgage/ LOWER Rate. a 2.5% savings =$962,000 per year or @ 0.02/ per share.
I just read ceo report how he feels,' they should out from under covenant in 6 months.' written last month.
Also, how they drove down expenses and profit are possible at lower Rev.
Also, 3 new key properties on/coming on line with solid revenue streams .
I thought the overall CEO letter was promising. A year from now, i hope, this is a homerun.
Also, if RevPar stays steady while expenses down a positive impact on bottom line.
Also, several new properties coming on line( NEW, less M/O costs required). These still to be factored into overall income
Older properties being sold- less profitable and
Some debt pay down- less debt expense
Promise of Intern/biz/ and general uptick in tourist markets bode well for occupancy
Teaser of ...The Board of Trustees will regularly evaluate its common dividend moving forward.
*YES, I want my dividend. YES, at this price they should announce a share buyback- at least in name only *OVERALL, company appears stable, leaner and with a positive outlook.
Maybe, just maybe this is the beginning of the end of pandemic nightmare for the stock; and the beginning of the beginning of a fantastic trajectory!
*Of course, let's hear what BOD says and what analysts ask at conference call.
Here's wishing all a great
OVERALL, company stable, eaner and with a positive outlook
J o C
Up until recently you drive by a hotel and the parking lots are pretty empty. NOT ANYMORE! The next quarter will be much much much better.
What is the difference in CLDT and CLDT-PA?
Obviously the PA is a higher stock price but are both promised at paying out .42 on April 18? I have shares in just the CLDT and haven’t seen the payout yet?
Well, it is voting time. There is an item on the voting page about execurive compensation. Perhaps if we vote NO, they will get the message to restart paying a dividend on the common like most REITs have done after the pandemic?
Those interested in lodging may find GHG, GreenTree Hospitality Group, Ltd., of interest at this point,
as China relaxes its Covid restraints.
Here's just a partial excerpt from today's Business Update by Chatham Lodging Trust
"RevPAR has more than doubled since December, portfolio-wide occupancy of 70% in May is strong, and I am particularly excited to see sequential RevPAR growth of 17% from April to May compared to 14% from March to April," highlighted Jeffrey H. Fisher, Chatham’s president and chief executive officer. "Leisure travel continues to lead the lodging recovery, and our northeastern leisure markets in New Hampshire and Maine are poised for strong summers after being shut down for half of the 2020 summer season. In Anaheim, Disney is opening the park to residents outside of California on June 15th and also is expected to increase capacity which bodes well for our Residence Inn in the market. Corporate demand is coming back in spurts in areas such as Silicon Valley, our largest market, as well as others like Washington, D.C and Bellevue, Wash. In Houston, health-care related business is returning to the Texas Medical Center, and we own four hotels in close proximity to it. For our portfolio, which appeals to a diverse set of customers, this portends well for continued, meaningful recovery in the summer and second half of the year."
This company is next in line to go up big. The Courtyards, Embassy Suites, Hampton Inn & Suites, Hiltons, Homewood Suites, Hyatt's, and Residence Inn's rooms are getting booked. These are the hotels that are affordable, clean and have good amenities for the travelers. Its selling way below its pre covid price and there is still a good amount of short interest. Given what has happened to other REITS stock prices with hotels (APLE and HST) I see this trading around $18. Holding long and strong.
Innkeeperss did a great job or riding the demand both ways. Pepe said, and I agree, that this is the only company that can be this spot on in managing demand. There will be a limit on rate as occupany moves due to loss of a good bit of high value local corporate which is ESSENTIAL to REVPAR and profit in high occupany environment. I seriously doubt Marriott and Hilton will allow dumbing down or cancelling breakfast and evening functions and food cost will be up dramatically. Labor will also be higher due to increasing number of "living"wages and if Joee Biden is elected labor cpsts as well as benefits will shoot up. Someone stated on the call that wages would be dropping. That simply will not happen. But again, Fisher and Co. do an exceptional job on both top and bottom line. You dont necessarily want to work there, but definitely to be trusted to take care of your invested $$$
So it's trading at 30% of its one year high or 13.00. Now you can wait a year and buy it at 12.00 to 15 when they start paying dividends again or you can buy now at a 70% discount and ride it out. dividends would be about 2.00. I expect them to not pay dividends until cash flow normalizes.
Bought back in at the low today. Can't pass up this price or yield.
⭐ Top Bullish Charts | February 2022 💰💵📈
Anyone have an idea why CLDT is not paying a dividend? Their business has to pretty much be back to normal as businesses are starting travel again.
Chatham Lodging Trust (NYSE:CLDT): Q3 FFO of $0.21 beats by $0.01.
Revenue of $64.29M (+83.9% Y/Y) beats by $2.17M.
No hint at restoring the common stock dividend on the Earnings call though.
New hotels have very good occupancy rates and most forward projections look very promising.
J o C
This stock at this price point is probably one of the best bargains on the market. When Covid is over and the dividend comes back it will be a $20 stock again.
Going ton add more in blocks. I think they can pay the div for a couple months without issue. If this clears up stock goes up.
If they have to cut the dividend stock will drop more. If the do cut they emphasize it is a temporary cut
I got in last week at $12.90. It seems to me that the negative share price reaction to the Earnings Report was excessive. At some point in the near future, CLDT will restore it's dividend (maybe not the full amount up front, but at least 50% of it to start).
This is a good entry point for anyone wanting to go Long.
Good Luck to all CLDT Investors.
If Austin properties deliver 8-8.5% noi along with LA hotel complex completion this year. Increase revenues. Also, once LA project complete they will refinance debt with lower % rate!
Also their revpar really ticked up and they said summer weaker for them is weaker yet fall they said revenues should increase.
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