In today’s stock market, a lot of things come at a premium. You want a dividend stock with solid growth potential? Prepare to pay a premium, because other investors want the same. You want a stock that pays monthly dividends? Prepare to pay a premium for that, too. The “supply and demand” mechanism means opportunities can be hard to find for income investors. However, that doesn’t mean you have to settle for a low-yield portfolio. In fact, the monthly dividend stock I’m looking at now pays a solid 6.3% yield and has decent growth potential.
The company in question is Chatham Lodging Trust (NYSE:CLDT), a real estate investment trust (REIT) headquartered in West Palm Beach, Florida. The REIT invests primarily in upscale, extended-stay hotels and premium-branded, select service hotels. It currently owns interests in 133 hotels, totaling 18,219 rooms. The No. 1 reason to consider Chatham Lodging Trust is its dividends. The company pays monthly dividends of $0.11 per share. At today’s price, that translates to a handsome annual dividend yield of 6.73%.
Source: Income Investors
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