Chatham Lodging Trust (CLDT) Updates Q3 Earnings Guidance
Chatham Lodging Trust (NYSE:CLDT) updated its third quarter earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $0.70-0.71 for the period, compared to the Thomson Reuters consensus estimate of $0.74.
A number of research firms recently issued reports on CLDT. FBR & Co downgraded shares of Chatham Lodging Trust from an outperform rating to a market perform rating and dropped their price objective for the stock from $26.00 to $23.00 in a report on Thursday, August 4th. Zacks Investment Research raised shares of Chatham Lodging Trust from a sell rating to a hold rating in a report on Tuesday, July 12th. Cantor Fitzgerald downgraded shares of Chatham Lodging Trust from a buy rating to a hold rating in a report on Wednesday. Finally, Barclays PLC downgraded shares of Chatham Lodging Trust from an overweight rating to an equal weight rating and dropped their price objective for the stock from $24.00 to $22.00 in a report on Thursday, August 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Chatham Lodging Trust presently has an average rating of Hold and an average price target of $22.42.
Chatham Lodging Trust (NYSE:CLDT) opened at 17.90 on Thursday. Chatham Lodging Trust has a one year low of $16.12 and a one year high of $24.80. The firm’s 50-day moving average is $19.67 and its 200 day moving average is $21.26. The stock has a market cap of $684.51 million, a P/E ratio of 20.13 and a beta of 1.03.
Chatham Lodging Trust (NYSE:CLDT) last released its earnings results on Wednesday, August 3rd. The company reported $0.69 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.02. Chatham Lodging Trust had a return on equity of 4.93% and a net margin of 11.72%. The business had revenue of $78 million for the quarter, compared to analysts’ expectations of $78.81 million. During the same quarter last year, the company posted $0.71 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Chatham Lodging Trust will post $2.30 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Friday, November 25th. Investors of record on Monday, October 31st will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, October 27th. This represents a $1.32 annualized dividend and a yield of 7.37%. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 150.00%.
Institutional investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its position in Chatham Lodging Trust by 23.1% in the second quarter. Thrivent Financial for Lutherans now owns 121,117 shares of the company’s stock valued at $2,662,000 after buying an additional 22,720 shares during the period. Raymond James & Associates raised its stake in shares of Chatham Lodging Trust by 3.7% in the second quarter. Raymond James & Associates now owns 122,920 shares of the company’s stock valued at $2,702,000 after buying an additional 4,381 shares in the last quarter. WBI Investments Inc. purchased a new stake in shares of Chatham Lodging Trust during the second quarter valued at approximately $1,989,000. Teachers Advisors Inc. raised its stake in shares of Chatham Lodging Trust by 2.9% in the second quarter. Teachers Advisors Inc. now owns 58,409 shares of the company’s stock valued at $1,284,000 after buying an additional 1,628 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its stake in shares of Chatham Lodging Trust by 10.0% in the second quarter. TIAA CREF Investment Management LLC now owns 205,601 shares of the company’s stock valued at $4,519,000 after buying an additional 18,713 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.
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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