Chatham Lodging Trust (NYSE:CLDT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

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. “

Other equities research analysts have also issued reports about the company. BidaskClub raised Chatham Lodging Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Chatham Lodging Trust in a research note on Thursday, September 21st. Janney Montgomery Scott began coverage on Chatham Lodging Trust in a research note on Friday, September 15th. They issued a “neutral” rating and a $21.00 price objective for the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $19.50 price objective on shares of Chatham Lodging Trust in a research note on Thursday, September 7th. Finally, Barclays reaffirmed a “hold” rating and issued a $23.00 price objective on shares of Chatham Lodging Trust in a research note on Friday, December 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Chatham Lodging Trust presently has a consensus rating of “Hold” and an average target price of $21.25.

Chatham Lodging Trust (NYSE CLDT) traded down $0.23 during trading hours on Tuesday, hitting $22.59. The stock had a trading volume of 336,000 shares, compared to its average volume of 407,650. The company has a market cap of $905.18, a price-to-earnings ratio of 33.72 and a beta of 1.06. Chatham Lodging Trust has a 1-year low of $18.66 and a 1-year high of $23.91. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.42 and a quick ratio of 1.42.

Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $81.40 million during the quarter, compared to analyst estimates of $80.12 million. Chatham Lodging Trust had a return on equity of 3.90% and a net margin of 9.03%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $0.71 EPS. analysts expect that Chatham Lodging Trust will post 2.16 earnings per share for the current year.

Several hedge funds have recently modified their holdings of CLDT. JPMorgan Chase & Co. lifted its stake in shares of Chatham Lodging Trust by 305.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 771,332 shares of the real estate investment trust’s stock worth $16,444,000 after acquiring an additional 581,076 shares during the last quarter. Northern Trust Corp raised its position in Chatham Lodging Trust by 65.7% during the 2nd quarter. Northern Trust Corp now owns 1,078,405 shares of the real estate investment trust’s stock valued at $21,665,000 after purchasing an additional 427,418 shares in the last quarter. Vanguard Group Inc. raised its position in Chatham Lodging Trust by 8.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,927,364 shares of the real estate investment trust’s stock valued at $98,990,000 after purchasing an additional 376,788 shares in the last quarter. Principal Financial Group Inc. bought a new stake in Chatham Lodging Trust during the 2nd quarter valued at $5,861,000. Finally, Bank of New York Mellon Corp raised its position in Chatham Lodging Trust by 90.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 610,776 shares of the real estate investment trust’s stock valued at $12,270,000 after purchasing an additional 289,400 shares in the last quarter. 76.18% of the stock is owned by hedge funds and other institutional investors.

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Chatham Lodging Trust Company Profile

Chatham Lodging Trust is a real estate investment trust. The Company invests primarily in upscale extended-stay and premium-branded select-service hotels. All of the Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P. (the Operating Partnership). The Company owned 40 hotels with an aggregate of 5,939 rooms located in 16 states and the District of Columbia.

Analyst Recommendations for Chatham Lodging Trust (NYSE:CLDT)

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