Chatham Lodging Trust (CLDT) Lowered to “Sell” at Zacks Investment Research
Zacks Investment Research cut shares of Chatham Lodging Trust (NYSE:CLDT) from a hold rating to a sell rating in a research report sent to investors 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. “
CLDT has been the subject of several other reports. BidaskClub raised shares of Chatham Lodging Trust from a hold rating to a buy rating in a report on Tuesday, September 26th. Barclays upped their price target on Chatham Lodging Trust from $21.00 to $22.00 and gave the stock an equal weight rating in a research note on Wednesday, November 1st. Janney Montgomery Scott initiated coverage on Chatham Lodging Trust in a research note on Friday, September 15th. They issued a neutral rating and a $21.00 price target for the company. Cantor Fitzgerald restated a hold rating and issued a $20.00 price target on shares of Chatham Lodging Trust in a research note on Thursday, September 21st. Finally, B. Riley restated a neutral rating on shares of Chatham Lodging Trust in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $21.25.
Chatham Lodging Trust (NYSE:CLDT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The company had revenue of $81.40 million during the quarter, compared to analyst estimates of $80.12 million. Chatham Lodging Trust had a net margin of 9.03% and a return on equity of 3.90%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. analysts predict that Chatham Lodging Trust will post 2.16 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be paid a $0.11 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.32 annualized dividend and a yield of 5.89%. Chatham Lodging Trust’s payout ratio is 197.01%.
A number of hedge funds have recently bought and sold shares of the business. Belpointe Asset Management LLC bought a new position in Chatham Lodging Trust in the 3rd quarter worth approximately $848,000. Stifel Financial Corp boosted its stake in Chatham Lodging Trust by 6.4% in the 3rd quarter. Stifel Financial Corp now owns 495,987 shares of the real estate investment trust’s stock worth $10,588,000 after purchasing an additional 29,913 shares during the period. Dimensional Fund Advisors LP boosted its stake in Chatham Lodging Trust by 2.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 573,848 shares of the real estate investment trust’s stock worth $12,234,000 after purchasing an additional 15,624 shares during the period. Wells Fargo & Company MN boosted its stake in Chatham Lodging Trust by 42.5% in the 3rd quarter. Wells Fargo & Company MN now owns 60,448 shares of the real estate investment trust’s stock worth $1,289,000 after purchasing an additional 18,027 shares during the period. Finally, Schroder Investment Management Group bought a new position in Chatham Lodging Trust in the 3rd quarter worth approximately $112,000. Institutional investors and hedge funds own 76.18% of the company’s stock.
Chatham Lodging Trust 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). The Company owned 40 hotels with an aggregate of 5,939 rooms located in 16 states and the District of Columbia.
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