Chatham Lodging Trust (CLDT) Given New $22.00 Price Target at FBR & Co
Chatham Lodging Trust (NYSE:CLDT) had its price objective dropped by FBR & Co from $23.00 to $22.00 in a research note issued on Tuesday. The brokerage presently has a “hold” rating on the stock. FBR & Co’s price target suggests a potential upside of 16.90% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $23.50 price target on shares of Chatham Lodging Trust in a research report on Monday, August 8th. Barclays PLC downgraded Chatham Lodging Trust from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $24.00 to $22.00 in a research report on Thursday, August 4th. Zacks Investment Research raised Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, SunTrust Banks Inc. lowered their price target 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 issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $22.42.
Shares of Chatham Lodging Trust (NYSE:CLDT) traded down 5.10% during mid-day trading on Tuesday, hitting $17.86. The stock had a trading volume of 315,924 shares. Chatham Lodging Trust has a one year low of $16.12 and a one year high of $24.80. The firm has a 50 day moving average of $19.87 and a 200 day moving average of $21.31. The stock has a market cap of $682.98 million, a price-to-earnings ratio of 20.09 and a beta of 1.03.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/fbr-co-trims-chatham-lodging-trust-cldt-target-price-to-22-00.html
Chatham Lodging Trust (NYSE:CLDT) last posted its earnings results on Wednesday, August 3rd. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by $0.02. The business had revenue of $78 million for the quarter, compared to analyst estimates of $78.81 million. Chatham Lodging Trust had a return on equity of 4.93% and a net margin of 11.72%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.71 earnings per share. On average, analysts forecast that Chatham Lodging Trust will post $2.30 earnings per share for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be given a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a yield of 7.01%. The ex-dividend date is Wednesday, September 28th. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 150.00%.
Large investors have recently added to or reduced their stakes in the company. Ngam Advisors L.P. increased its stake in Chatham Lodging Trust by 4.6% in the first quarter. Ngam Advisors L.P. now owns 99,002 shares of the company’s stock worth $2,122,000 after buying an additional 4,323 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Chatham Lodging Trust by 0.3% in the first quarter. TIAA CREF Investment Management LLC now owns 186,888 shares of the company’s stock worth $4,005,000 after buying an additional 481 shares in the last quarter. BlackRock Inc. boosted its position in shares of Chatham Lodging Trust by 13.6% in the first quarter. BlackRock Inc. now owns 37,146 shares of the company’s stock worth $796,000 after buying an additional 4,437 shares in the last quarter. BlackRock Group LTD boosted its position in shares of Chatham Lodging Trust by 2.7% in the first quarter. BlackRock Group LTD now owns 316,873 shares of the company’s stock worth $6,790,000 after buying an additional 8,436 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new position in shares of Chatham Lodging Trust during the first quarter worth approximately $347,000. 83.95% of the stock is currently 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.
Receive News & Ratings for Chatham Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chatham Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.