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.
Several equities research analysts recently issued reports on the company. FBR & Co reduced their price objective on Chatham Lodging Trust from $23.00 to $22.00 and set a market perform rating for the company in a research note on Tuesday. Barclays PLC reduced their price objective on Chatham Lodging Trust from $22.00 to $19.00 and set an equal weight rating for the company in a research note on Tuesday. Zacks Investment Research raised Chatham Lodging Trust from a sell rating to a hold rating in a research report on Tuesday, July 12th. Cantor Fitzgerald reaffirmed a buy rating and issued a $23.50 target price on shares of Chatham Lodging Trust in a research report on Monday, August 8th. Finally, SunTrust Banks Inc. dropped their target price on Chatham Lodging Trust from $20.00 to $19.00 and set a neutral rating on the stock in a research report on Thursday, August 4th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $22.42.
Shares of Chatham Lodging Trust (NYSE:CLDT) traded down 4.89% on Tuesday, hitting $17.90. The stock had a trading volume of 304,708 shares. The stock has a market capitalization of $684.51 million, a PE ratio of 20.13 and a beta of 1.03. 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 $19.87 and its 200-day moving average is $21.31.
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Chatham Lodging Trust (NYSE:CLDT) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $78 million for the quarter, compared to analyst estimates of $78.81 million. During the same period last year, the firm earned $0.71 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts expect that Chatham Lodging Trust will post $2.30 earnings per share for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be paid a dividend of $0.11 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.01%. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 150.00%.
Several large investors have recently made changes to their positions in CLDT. Thrivent Financial for Lutherans boosted its stake in shares of Chatham Lodging Trust by 23.1% in the second quarter. Thrivent Financial for Lutherans now owns 121,117 shares of the company’s stock worth $2,662,000 after buying an additional 22,720 shares during the period. Raymond James & Associates boosted 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 worth $2,702,000 after buying an additional 4,381 shares during the period. WBI Investments Inc. bought a new stake in shares of Chatham Lodging Trust during the second quarter worth approximately $1,989,000. Teachers Advisors Inc. boosted 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 worth $1,284,000 after buying an additional 1,628 shares during the period. Finally, TIAA CREF Investment Management LLC boosted 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 worth $4,519,000 after buying an additional 18,713 shares during the period. 83.95% of the stock is owned by institutional investors and hedge funds.
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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