$68.39 Million in Sales Expected for Chatham Lodging Trust (CLDT) This Quarter
Equities research analysts expect Chatham Lodging Trust (NYSE:CLDT) to post sales of $68.39 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Chatham Lodging Trust’s earnings, with the highest sales estimate coming in at $69.32 million and the lowest estimate coming in at $67.90 million. Chatham Lodging Trust posted sales of $67.24 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.7%. The company is scheduled to announce its next earnings results before the market opens on Monday, February 26th.
On average, analysts expect that Chatham Lodging Trust will report full-year sales of $68.39 million for the current year, with estimates ranging from $294.20 million to $297.85 million. For the next financial year, analysts expect that the firm will report sales of $304.52 million per share, with estimates ranging from $297.55 million to $312.70 million. Zacks’ sales averages are an average based on a survey of analysts that cover Chatham Lodging Trust.
Several research analysts recently issued reports on CLDT shares. BidaskClub upgraded Chatham Lodging Trust from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Barclays boosted their price target on Chatham Lodging Trust from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, November 1st. B. Riley reiterated a “neutral” rating on shares of Chatham Lodging Trust in a report on Thursday, November 2nd. Finally, Zacks Investment Research downgraded Chatham Lodging Trust from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $21.25.
The firm also recently declared a monthly dividend, which will be paid on Friday, March 30th. Shareholders of record on Wednesday, February 28th will be issued a $0.11 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $1.32 annualized dividend and a yield of 6.25%. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 194.12%.
A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Chatham Lodging Trust by 23.1% in the 4th quarter. BlackRock Inc. now owns 7,140,632 shares of the real estate investment trust’s stock valued at $162,524,000 after acquiring an additional 1,337,717 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of 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 worth $98,990,000 after buying an additional 376,788 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Chatham Lodging Trust by 0.5% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 3,325,682 shares of the real estate investment trust’s stock worth $70,904,000 after buying an additional 17,912 shares during the last quarter. State Street Corp increased its holdings in shares of Chatham Lodging Trust by 28.5% during the 2nd quarter. State Street Corp now owns 1,133,956 shares of the real estate investment trust’s stock worth $22,774,000 after buying an additional 251,188 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of Chatham Lodging Trust by 3.1% during the 3rd quarter. Boston Partners now owns 1,124,547 shares of the real estate investment trust’s stock worth $23,975,000 after buying an additional 33,450 shares during the last quarter. Institutional investors own 75.91% of the company’s stock.
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About Chatham Lodging Trust
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 41 hotels with an aggregate of 6,163 rooms located in 16 states and the District of Columbia.
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