BidaskClub Lowers Chatham Lodging Trust (REIT) (CLDT) to Hold
BidaskClub lowered shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) from a buy rating to a hold rating in a research note issued to investors on Tuesday, October 3rd.
Several other brokerages have also weighed in on CLDT. Zacks Investment Research lowered Chatham Lodging Trust (REIT) from a hold rating to a sell rating in a research report on Tuesday, October 3rd. Cantor Fitzgerald reissued a hold rating and set a $20.00 price objective on shares of Chatham Lodging Trust (REIT) in a report on Thursday, September 21st. Janney Montgomery Scott initiated coverage on Chatham Lodging Trust (REIT) in a research note on Friday, September 15th. They set a neutral rating and a $21.00 target price for the company. Stifel Nicolaus restated a hold rating and set a $19.50 target price on shares of Chatham Lodging Trust (REIT) in a research note on Thursday, September 7th. Finally, JMP Securities upgraded Chatham Lodging Trust (REIT) from a market perform rating to an outperform rating in a research note on Monday, August 28th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $20.92.
Shares of Chatham Lodging Trust (NYSE CLDT) traded up 0.50% on Tuesday, hitting $22.27. 223,967 shares of the stock were exchanged. The stock has a market cap of $872.27 million, a PE ratio of 33.74 and a beta of 1.07. Chatham Lodging Trust has a 52-week low of $16.45 and a 52-week high of $22.32. The company’s 50 day moving average is $20.94 and its 200-day moving average is $20.13.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last announced its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.52). The company had revenue of $77.90 million for the quarter, compared to analysts’ expectations of $77.84 million. Chatham Lodging Trust (REIT) had a net margin of 8.73% and a return on equity of 3.76%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $0.69 earnings per share. Analysts predict that Chatham Lodging Trust will post $0.59 EPS for the current fiscal year.
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The firm also recently declared a monthly dividend, which will be paid on Friday, November 24th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, October 30th. This represents a $1.32 dividend on an annualized basis and a yield of 5.93%. Chatham Lodging Trust (REIT)’s dividend payout ratio is 200.00%.
In other news, Director Robert D. Perlmutter sold 2,566 shares of Chatham Lodging Trust (REIT) stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $20.37, for a total value of $52,269.42. Following the completion of the sale, the director now directly owns 33,258 shares of the company’s stock, valued at approximately $677,465.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Pinebridge Investments L.P. acquired a new stake in shares of Chatham Lodging Trust (REIT) during the second quarter worth $101,000. State of Alaska Department of Revenue acquired a new stake in shares of Chatham Lodging Trust (REIT) during the second quarter worth $151,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Chatham Lodging Trust (REIT) during the second quarter worth $167,000. Municipal Employees Retirement System of Michigan bought a new position in Chatham Lodging Trust (REIT) during the second quarter worth about $182,000. Finally, HighTower Advisors LLC bought a new position in Chatham Lodging Trust (REIT) during the first quarter worth about $208,000. 83.10% of the stock is 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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