Chatham Lodging Trust (CLDT) Cut to “Sell” at Zacks Investment Research
Chatham Lodging Trust (NYSE:CLDT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
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 equities analysts also recently commented on CLDT. Cantor Fitzgerald restated a “buy” rating on shares of Chatham Lodging Trust in a research note on Thursday, June 30th. FBR & Co downgraded shares of Chatham Lodging Trust from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $26.00 to $23.00 in a research note on Thursday, August 4th. Barclays PLC downgraded shares of Chatham Lodging Trust from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $24.00 to $22.00 in a research note on Thursday, August 4th. Finally, SunTrust Banks Inc. reduced their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Chatham Lodging Trust currently has an average rating of “Hold” and a consensus price target of $22.42.
Shares of Chatham Lodging Trust (NYSE:CLDT) traded down 0.56% during midday trading on Wednesday, hitting $17.90. 254,365 shares of the stock were exchanged. The firm has a market cap of $684.51 million, a P/E ratio of 20.13 and a beta of 1.03. Chatham Lodging Trust has a 12-month low of $16.12 and a 12-month high of $24.80. The stock’s 50 day moving average is $19.77 and its 200 day moving average is $21.28.
Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings results 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. Chatham Lodging Trust had a net margin of 11.72% and a return on equity of 4.93%. The business earned $78 million during the quarter, compared to analyst estimates of $78.81 million. During the same quarter last year, the company posted $0.71 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. On average, equities research analysts forecast that Chatham Lodging Trust will post $2.30 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, November 25th. Stockholders of record on Monday, October 31st will be paid a $0.11 dividend. The ex-dividend date is Thursday, October 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.37%. Chatham Lodging Trust’s payout ratio is currently 150.00%.
Large investors have recently bought and sold shares of the stock. Ngam Advisors L.P. raised its position in shares of Chatham Lodging Trust by 4.6% in the first quarter. Ngam Advisors L.P. now owns 99,002 shares of the company’s stock worth $2,122,000 after buying an additional 4,323 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Chatham Lodging Trust by 0.3% in the first quarter. TIAA CREF Investment Management LLC now owns 186,888 shares of the company’s stock worth $4,005,000 after buying an additional 481 shares during the period. BlackRock Inc. raised its position in shares of Chatham Lodging Trust by 13.6% in the first quarter. BlackRock Inc. now owns 37,146 shares of the company’s stock worth $796,000 after buying an additional 4,437 shares during the period. BlackRock Group LTD raised its position in shares of Chatham Lodging Trust by 2.7% in the first quarter. BlackRock Group LTD now owns 316,873 shares of the company’s stock worth $6,790,000 after buying an additional 8,436 shares during the period. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Chatham Lodging Trust during the first quarter worth about $347,000. Institutional investors 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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