Chatham Lodging Trust (CLDT) Upgraded to Hold by Zacks Investment Research
According to Zacks, “Chatham Lodging Trust is a self-advised hotel REIT, formed to invest in premium-branded upscale extended-stay and select-service hotels. The Company intends to invest primarily in hotels in large metropolitan markets in the United States. Chatham Lodging Trust expects that a significant portion of its portfolio will consist of hotels in the upscale extended-stay market, including brands such as Residence Inn by Marriott, Homewood Suites by Hilton and Summerfield Suites by Hyatt. It also intends to invest in premium-branded select-service hotels such as Courtyard by Marriott, Hampton Inn and Hampton Inn and Suites. “
Several other research firms also recently issued reports on CLDT. FBR & Co downgraded Chatham Lodging Trust from an outperform rating to a market perform rating and dropped their price target for the company from $26.00 to $23.00 in a research note on Thursday, August 4th. SunTrust Banks Inc. dropped their price target on Chatham Lodging Trust from $20.00 to $19.00 and set a neutral rating on the stock in a research note on Thursday, August 4th. Barclays PLC downgraded Chatham Lodging Trust from an overweight rating to an equal weight rating and dropped their price target for the company from $24.00 to $22.00 in a research note on Thursday, August 4th. Finally, Cantor Fitzgerald reissued a buy rating on shares of Chatham Lodging Trust in a research note on Thursday, June 30th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $23.08.
Chatham Lodging Trust (NYSE:CLDT) traded down 0.58% during mid-day trading on Tuesday, hitting $19.02. The stock had a trading volume of 72,581 shares. The stock’s 50-day moving average is $20.14 and its 200 day moving average is $21.36. The company has a market capitalization of $727.34 million, a P/E ratio of 21.39 and a beta of 1.03. Chatham Lodging Trust has a 52 week low of $16.12 and a 52 week high of $24.80.
Chatham Lodging Trust (NYSE:CLDT) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $78 million for the quarter, compared to analyst estimates of $78.81 million. Chatham Lodging Trust had a return on equity of 4.93% and a net margin of 11.72%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. Equities analysts forecast that Chatham Lodging Trust will post $2.30 earnings per share for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.32 annualized dividend and a yield of 6.90%. Chatham Lodging Trust’s dividend payout ratio is currently 150.00%.
A number of hedge funds and other institutional investors have recently made changes to their positions in CLDT. Schwab Charles Investment Management Inc. increased its position in shares of Chatham Lodging Trust by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 133,931 shares of the company’s stock valued at $2,944,000 after buying an additional 2,340 shares during the period. Hillsdale Investment Management Inc. bought a new position in shares of Chatham Lodging Trust during the second quarter valued at about $123,000. Stifel Financial Corp increased its position in shares of Chatham Lodging Trust by 4.5% in the second quarter. Stifel Financial Corp now owns 190,742 shares of the company’s stock valued at $4,192,000 after buying an additional 8,228 shares during the period. Legal & General Group Plc increased its position in shares of Chatham Lodging Trust by 6.6% in the second quarter. Legal & General Group Plc now owns 73,466 shares of the company’s stock valued at $1,613,000 after buying an additional 4,519 shares during the period. Finally, Guggenheim Capital LLC increased its position in shares of Chatham Lodging Trust by 4.4% in the second quarter. Guggenheim Capital LLC now owns 244,530 shares of the company’s stock valued at $5,375,000 after buying an additional 10,394 shares during the period. Institutional investors and hedge funds own 83.95% of the company’s stock.
About Chatham Lodging Trust
Chatham Lodging Trust is a real estate investment trust (REIT) organized to invest primarily in premium-branded upscale extended-stay and select-service hotels. The Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P (Operating Partnership). The Operating Partnership and its subsidiaries lease the Company’s hotels.
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