Chatham Lodging Trust (NYSE:CLDT) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.70-0.71 for the period, compared to the Thomson Reuters consensus estimate of $0.74.

Shares of Chatham Lodging Trust (NYSE:CLDT) traded down 5.15% during midday trading on Tuesday, reaching $17.85. 318,705 shares of the company were exchanged. The firm has a 50-day moving average of $19.87 and a 200 day moving average of $21.31. Chatham Lodging Trust has a 52 week low of $16.12 and a 52 week high of $24.80. The firm has a market capitalization of $682.60 million, a P/E ratio of 20.08 and a beta of 1.03.

Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.02. The company 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 revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.71 earnings per share. On average, equities research analysts expect that Chatham Lodging Trust will post $2.30 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be given a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date is Wednesday, September 28th. Chatham Lodging Trust’s dividend payout ratio (DPR) is 150.00%.

CLDT has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Chatham Lodging Trust from a hold rating to a sell rating in a research report on Thursday, August 4th. SunTrust Banks Inc. reduced their target price on shares of Chatham Lodging Trust from $20.00 to $19.00 and set a neutral rating for the company in a research report on Thursday, August 4th. Barclays PLC reduced their target price on shares of Chatham Lodging Trust from $22.00 to $19.00 and set an equal weight rating for the company in a research report on Tuesday. Cantor Fitzgerald reiterated a buy rating on shares of Chatham Lodging Trust in a research report on Thursday, June 30th. Finally, FBR & Co reduced their target price on shares of Chatham Lodging Trust from $23.00 to $22.00 and set a hold rating for the company in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $22.42.

Large investors have recently made changes to their positions in the stock. Thrivent Financial for Lutherans raised its stake in shares of Chatham Lodging Trust by 23.1% in the second quarter. Thrivent Financial for Lutherans now owns 121,117 shares of the company’s stock worth $2,662,000 after buying an additional 22,720 shares in the last quarter. Raymond James & Associates raised its position in shares of Chatham Lodging Trust by 3.7% in the second quarter. Raymond James & Associates now owns 122,920 shares of the company’s stock valued at $2,702,000 after buying an additional 4,381 shares during the period. WBI Investments Inc. bought a new position in shares of Chatham Lodging Trust during the second quarter valued at $1,989,000. Teachers Advisors Inc. raised its position in shares of Chatham Lodging Trust by 2.9% in the second quarter. Teachers Advisors Inc. now owns 58,409 shares of the company’s stock valued at $1,284,000 after buying an additional 1,628 shares during the period. Finally, TIAA CREF Investment Management LLC raised its position in shares of Chatham Lodging Trust by 10.0% in the second quarter. TIAA CREF Investment Management LLC now owns 205,601 shares of the company’s stock valued at $4,519,000 after buying an additional 18,713 shares during the period. 83.95% of the stock is owned by hedge funds and other institutional investors.

Chatham Lodging Trust Company Profile

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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