Chatham Lodging Trust Coverage Initiated at Cantor Fitzgerald (CLDT)
Cantor Fitzgerald initiated coverage on shares of Chatham Lodging Trust (NASDAQ:CLDT) in a research note issued on Monday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $21.50 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 18.46% from the company’s current price.
The analysts wrote, “We are initiating coverage of Chatham Lodging Trust with a BUY rating and a $21.50 target price. Chatham is a small-cap hotel REIT focused on premium-branded select service hotels, particularly in the extended stay segment. In our view, Chatham offers an attractive combination of same-store sales growth opportunities and additional growth via acquisitions. Moreover, its JV transactions with Cerberus have generated significant cash returns, and we believe these investments are an underappreciated source of value. Offering what we believe to be solid upside potential and an nice dividend yield, we find Chatham shares attractive.”
Shares of Chatham Lodging Trust (NASDAQ:CLDT) opened at 18.15 on Monday. Chatham Lodging Trust has a 1-year low of $12.74 and a 1-year high of $19.97. The stock has a 50-day moving average of $18.62 and a 200-day moving average of $18.14. The company’s market cap is $406.5 million.
Chatham Lodging Trust (NASDAQ:CLDT) last announced its earnings results on Monday, August 5th. The company reported $0.48 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.48. The company had revenue of $30.74 million for the quarter, compared to the consensus estimate of $29.91 million. During the same quarter last year, the company posted $0.43 earnings per share. Chatham Lodging Trust’s revenue was up 16.7% compared to the same quarter last year.
The company also recently declared a monthly dividend, which is scheduled for Friday, October 25th. Shareholders of record on Monday, September 30th will be given a dividend of $0.07 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Thursday, September 26th.
Separately, analysts at Zacks upgraded shares of Chatham Lodging Trust from an “underperform” rating to a “neutral” rating in a research note to investors on Friday, September 13th. They now have a $19.90 price target on the stock. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Chatham Lodging Trust presently has a consensus rating of “Buy” and an average target price of $20.88.
Chatham Lodging Trust is a hotel investment company. The Company was formed to invest in extended-stay, select-service and full-service hotels.
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