Cantor Fitzgerald downgraded shares of Chatham Lodging Trust (NYSE:CLDT) from a buy rating to a hold rating in a report published on Wednesday. Cantor Fitzgerald currently has $19.00 target price on the stock.
Other equities analysts have also issued research reports about the company. Barclays PLC lowered 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. FBR & Co reduced their price objective on Chatham Lodging Trust from $23.00 to $22.00 and set a hold rating on the stock in a research note on Tuesday, October 11th. Zacks Investment Research raised Chatham Lodging Trust from a sell rating to a hold rating in a research note on Tuesday, October 4th. Finally, SunTrust Banks Inc. reduced their price objective 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. One 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 company. The company currently has an average rating of Hold and a consensus price target of $21.67.
Chatham Lodging Trust (NYSE:CLDT) opened at 17.69 on Wednesday. Chatham Lodging Trust has a 52 week low of $16.12 and a 52 week high of $24.80. The company has a 50-day moving average price of $19.46 and a 200-day moving average price of $21.21. The stock has a market cap of $676.48 million, a PE ratio of 19.90 and a beta of 1.03.
Chatham Lodging Trust (NYSE:CLDT) last announced 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. The company earned $78 million during the quarter, compared to analyst estimates of $78.81 million. Chatham Lodging Trust had a net margin of 11.72% and a return on equity of 4.93%. Chatham Lodging Trust’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. Analysts anticipate that Chatham Lodging Trust will post $2.30 earnings per share for the current year.
The company 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 dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.46%. The ex-dividend date is Thursday, October 27th. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 150.00%.
Several institutional investors have recently modified their holdings of CLDT. Vanguard Group Inc. raised its position in shares of Chatham Lodging Trust by 1.8% in the second quarter. Vanguard Group Inc. now owns 4,478,224 shares of the company’s stock valued at $98,432,000 after buying an additional 78,550 shares during the period. Fuller & Thaler Asset Management Inc. increased its stake in Chatham Lodging Trust by 5.7% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,098,701 shares of the company’s stock worth $68,109,000 after buying an additional 167,838 shares in the last quarter. Forward Management LLC increased its stake in Chatham Lodging Trust by 2.7% in the second quarter. Forward Management LLC now owns 1,926,100 shares of the company’s stock worth $42,335,000 after buying an additional 50,700 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Chatham Lodging Trust by 0.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,715,785 shares of the company’s stock worth $37,713,000 after buying an additional 11,414 shares in the last quarter. Finally, V3 Capital Management L.P. increased its stake in Chatham Lodging Trust by 80.5% in the first quarter. V3 Capital Management L.P. now owns 1,190,047 shares of the company’s stock worth $25,503,000 after buying an additional 530,637 shares in the last quarter. 83.90% of the stock is currently owned by institutional investors and hedge funds.
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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