2024-07-06 11:40:00 ET
Summary
- Chatham Lodging Trust's financial performance for preferred shareholders remains robust, with a strong preferred dividend coverage ratio.
- The REIT's balance sheet shows low net debt compared to real estate assets, providing a substantial cushion for preferred equity.
- Series A preferred shares offer an attractive current yield of approximately 8.1%, making them an appealing income-focused investment in the current interest rate climate.
Introduction
In the past few months I have been taking advantage of the relatively low price of the preferred shares of Chatham Lodging Trust ( CLDT ) as I think the risk/reward ratio looks pretty good right now. As it has been a while since I last discussed ( CLDT.PR.A ), I wanted to double check on the recent financial results to make sure there are no unexpected surprises. For a more detailed overview of the hotel REIT’s assets and business focus, I’d like to refer you to this older article ....
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Chatham Lodging Trust: I Continue To Buy The 8.1% Preferred Yield