Chatham Lodging Trust (CLDT) Upgraded by Zacks Investment Research to Hold
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 analysts have also commented on the company. SunTrust Banks Inc. decreased their price target 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. Cantor Fitzgerald reaffirmed a buy rating and issued a $23.50 price target on shares of Chatham Lodging Trust in a research note on Monday, August 8th. Barclays PLC lowered Chatham Lodging Trust from an overweight rating to an equal weight rating and decreased their price target for the company from $24.00 to $22.00 in a research note on Thursday, August 4th. Finally, FBR & Co lowered Chatham Lodging Trust from an outperform rating to a market perform rating and decreased their price target for the company from $26.00 to $23.00 in a research note on Thursday, August 4th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $23.08.
Chatham Lodging Trust (NYSE:CLDT) opened at 18.63 on Tuesday. The firm has a market capitalization of $712.43 million, a price-to-earnings ratio of 20.96 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 company’s 50-day moving average price is $19.94 and its 200-day moving average price is $21.31.
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. Equities analysts expect that Chatham Lodging Trust will post $2.30 EPS for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, September 30th will be paid a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 7.09%. The ex-dividend date is Wednesday, September 28th. Chatham Lodging Trust’s dividend payout ratio is currently 150.00%.
Large investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in Chatham Lodging Trust by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,371 shares of the company’s stock worth $118,000 after buying an additional 647 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in Chatham Lodging Trust during the second quarter worth $123,000. Societe Generale purchased a new stake in Chatham Lodging Trust during the second quarter worth $136,000. SG Americas Securities LLC purchased a new stake in Chatham Lodging Trust during the second quarter worth $136,000. Finally, PNC Financial Services Group Inc. increased its stake in Chatham Lodging Trust by 2,937.7% in the second quarter. PNC Financial Services Group Inc. now owns 6,197 shares of the company’s stock worth $136,000 after buying an additional 5,993 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.
Chatham Lodging Trust Company Profile
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.