Chatham Lodging Trust Declares $0.09 Quarterly Common Dividend
Chatham Lodging Trust (NYSE: CLDT), a hotel-focused REIT, declared a $0.09 quarterly common dividend payable January 15, 2026. The company also declared a preferred share dividend of $0.41406 per share.
Chatham Lodging Trust (NYSE: CLDT), a hotel-focused real estate investment trust, declared a $0.09 quarterly common dividend payable January 15, 2026, to shareholders of record as of December 31, 2025. The company's board of trustees also declared a preferred share dividend of $0.41406 per share for the same payment date. Read more dividend announcements.
The board stated it will continue to evaluate the common share dividend on a quarterly basis, with the first quarter 2026 dividend announcement expected next week.
| Dividend Type | Amount | Record Date | Payment Date |
|---|---|---|---|
| Common Share | $0.09 | December 31, 2025 | January 15, 2026 |
| Preferred Share | $0.41406 | December 31, 2025 | January 15, 2026 |
Share Repurchase Activity
During the fourth quarter of 2025, Chatham repurchased 1.0 million common shares at a weighted-average price of $6.73 per share for an aggregate purchase price of approximately $7.0 million, including commissions. For the full year 2025, the company repurchased 1.3 million shares at a weighted-average price of $6.83 per share, totaling approximately $9.0 million.
Since the inception of its buyback program, Chatham has repurchased 1.8 million shares at a weighted-average price of $6.87 per share for an aggregate purchase price of approximately $12.6 million.
Capital Structure and Leverage
As of December 31, 2025, Chatham reported net debt of $319 million, down $70 million from $389 million at the end of 2024. Total debt outstanding stood at $343 million at an average interest rate of 6.2 percent.
The debt composition included $143 million of fixed-rate mortgage debt at an average interest rate of 7.2 percent and $200 million outstanding on its term loan at a rate of 5.5 percent. The company's $300 million revolving credit facility, which carries a current interest rate of 5.5 percent, had no outstanding balance.
Chatham's leverage ratio, based on the ratio of net debt to hotel investments at cost, stood at approximately 20 percent, down from 23 percent on December 31, 2024.
2026 Guidance
The company issued guidance for 2026, projecting revenue per available room (RevPAR) of $142 to $145, representing RevPAR growth of negative 0.5 percent to positive 1.5 percent. Total hotel revenue is expected to range from $284 million to $290 million.
Adjusted EBITDA is projected at $84 million to $89 million, while adjusted funds from operations (FFO) is expected to range from $53 million to $58 million, or $1.04 to $1.14 per diluted share. Hotel EBITDA margins are forecasted at 33.5 percent to 34.5 percent.
The company noted that effective January 1, 2026, it will exclude non-cash share-based compensation from its calculation of adjusted FFO to align with the majority of other public lodging REITs. The guidance assumes no additional acquisitions, dispositions, or debt or equity issuance.