Cantor Fitzgerald Reiterates “Hold” Rating for Chatham Lodging Trust (REIT) (CLDT)
Chatham Lodging Trust (REIT) (NYSE:CLDT)‘s stock had its “hold” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued on Thursday. They currently have a $20.00 target price on the real estate investment trust’s stock. Cantor Fitzgerald’s price target would suggest a potential downside of 4.90% from the company’s previous close.
The analysts wrote, “Today, the company announced the acquisition of a recently renovated Hilton Garden Inn in Portsmouth, NH, for $43.5m at 8.0% cap rate.””
Several other equities analysts have also recently issued reports on the company. Janney Montgomery Scott assumed coverage on Chatham Lodging Trust (REIT) in a research report on Friday, September 15th. They set a “neutral” rating and a $21.00 target price on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $19.50 target price on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, September 7th. Finally, JMP Securities upgraded Chatham Lodging Trust (REIT) from a “market perform” rating to an “outperform” rating in a research report on Monday, August 28th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $20.30.
Chatham Lodging Trust (CLDT) opened at 21.03 on Thursday. The firm’s 50-day moving average price is $20.27 and its 200-day moving average price is $19.88. The stock has a market cap of $823.70 million, a P/E ratio of 31.86 and a beta of 1.05. Chatham Lodging Trust has a 12 month low of $16.45 and a 12 month high of $21.55.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.52). Chatham Lodging Trust (REIT) had a return on equity of 3.76% and a net margin of 8.73%. The business had revenue of $77.90 million for the quarter, compared to analyst estimates of $77.84 million. During the same quarter in the previous year, the firm posted $0.69 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts predict that Chatham Lodging Trust will post $0.59 earnings per share for the current year.
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In other news, Director Robert D. Perlmutter sold 2,566 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $20.37, for a total transaction of $52,269.42. Following the sale, the director now owns 33,258 shares of the company’s stock, valued at approximately $677,465.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in the company. Phocas Financial Corp. boosted its stake in shares of Chatham Lodging Trust (REIT) by 4.6% during the 2nd quarter. Phocas Financial Corp. now owns 264,225 shares of the real estate investment trust’s stock worth $5,308,000 after acquiring an additional 11,672 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Chatham Lodging Trust (REIT) during the 2nd quarter worth approximately $239,000. The Manufacturers Life Insurance Company boosted its stake in shares of Chatham Lodging Trust (REIT) by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,592 shares of the real estate investment trust’s stock worth $594,000 after acquiring an additional 102 shares in the last quarter. State Street Corp boosted its stake in shares of Chatham Lodging Trust (REIT) 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 acquiring an additional 251,188 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Chatham Lodging Trust (REIT) by 98.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 217,028 shares of the real estate investment trust’s stock worth $4,360,000 after acquiring an additional 107,940 shares in the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.
Chatham Lodging Trust (REIT) Company Profile
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). As of December 31, 2016, the Company owned 38 hotels with an aggregate of 5,712 rooms located in 15 states and the District of Columbia.
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