Chatham Lodging Trust (NYSE:CLDT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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 recently issued reports about the company. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Chatham Lodging Trust in a research report on Thursday, June 30th. Barclays PLC downgraded Chatham Lodging Trust from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $24.00 to $22.00 in a report on Thursday, August 4th. FBR & Co downgraded Chatham Lodging Trust from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $26.00 to $23.00 in a report on Thursday, August 4th. Finally, SunTrust Banks Inc. lowered their target price on Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 4th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $23.08.
Shares of Chatham Lodging Trust (NYSE:CLDT) traded down 0.16% on Tuesday, hitting $19.13. The stock had a trading volume of 191,582 shares. The firm has a 50-day moving average price of $20.21 and a 200-day moving average price of $21.38. Chatham Lodging Trust has a 52 week low of $16.12 and a 52 week high of $24.80. The stock has a market capitalization of $731.55 million, a P/E ratio of 21.52 and a beta of 1.03.
Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.69 EPS for the quarter, missing the 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 had revenue of $78 million for the quarter, compared to analysts’ expectations of $78.81 million. During the same period last year, the business earned $0.71 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. Equities analysts expect that Chatham Lodging Trust will post $2.30 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.90%. The ex-dividend date is Wednesday, September 28th. Chatham Lodging Trust’s dividend payout ratio (DPR) is currently 150.00%.
Several hedge funds and other institutional investors have recently bought and sold shares of CLDT. V3 Capital Management L.P. increased its position 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 valued at $25,503,000 after buying an additional 530,637 shares during the period. Fuller & Thaler Asset Management Inc. increased its position 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 valued at $68,109,000 after buying an additional 167,838 shares during the period. Cowen Prime Services LLC increased its position in Chatham Lodging Trust by 419.2% in the second quarter. Cowen Prime Services LLC now owns 135,000 shares of the company’s stock valued at $2,967,000 after buying an additional 109,000 shares during the period. WBI Investments Inc. bought a new position in Chatham Lodging Trust during the second quarter valued at approximately $1,989,000. Finally, Emerald Acquisition Ltd. bought a new position in Chatham Lodging Trust during the second quarter valued at approximately $1,945,000. 83.95% of the stock is currently owned by hedge funds and other institutional investors.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Chatham Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chatham Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.