Chatham Lodging Trust (CLDT) Downgraded to Hold at Cantor Fitzgerald
Chatham Lodging Trust (NYSE:CLDT) was downgraded by stock analysts at Cantor Fitzgerald to a “hold” rating in a note issued to investors on Wednesday.
Several other brokerages have also recently issued reports on CLDT. Zacks Investment Research upgraded shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. FBR & Co cut shares of Chatham Lodging Trust from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $26.00 to $23.00 in a research report on Thursday, August 4th. SunTrust Banks Inc. reduced their price target on shares of 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. Finally, Barclays PLC cut shares of Chatham Lodging Trust from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $24.00 to $22.00 in a research report on Thursday, August 4th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Chatham Lodging Trust presently has a consensus rating of “Hold” and an average price target of $22.42.
Shares of Chatham Lodging Trust (NYSE:CLDT) opened at 18.00 on Wednesday. Chatham Lodging Trust has a 52 week low of $16.12 and a 52 week high of $24.80. The stock has a market cap of $688.34 million, a price-to-earnings ratio of 20.25 and a beta of 1.03. The stock’s 50 day moving average is $19.77 and its 200 day moving average is $21.28.
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Chatham Lodging Trust (NYSE:CLDT) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by $0.02. Chatham Lodging Trust had a net margin of 11.72% and a return on equity of 4.93%. The company had revenue of $78 million for the quarter, compared to analysts’ expectations of $78.81 million. During the same quarter in the prior year, the firm earned $0.71 EPS. Chatham Lodging Trust’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts forecast that Chatham Lodging Trust will post $2.30 EPS for the current year.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, November 25th. Investors of record on Monday, October 31st will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 7.33%. The ex-dividend date of this dividend is Thursday, October 27th. Chatham Lodging Trust’s payout ratio is currently 150.00%.
A number of large investors have recently bought and sold shares of CLDT. Schwab Charles Investment Management Inc. raised its stake in Chatham Lodging Trust by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 133,931 shares of the company’s stock valued at $2,944,000 after buying an additional 2,340 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Chatham Lodging Trust during the second quarter valued at approximately $123,000. Stifel Financial Corp raised its stake in Chatham Lodging Trust by 4.5% in the second quarter. Stifel Financial Corp now owns 190,742 shares of the company’s stock valued at $4,192,000 after buying an additional 8,228 shares during the last quarter. Legal & General Group Plc raised its stake in Chatham Lodging Trust by 6.6% in the second quarter. Legal & General Group Plc now owns 73,466 shares of the company’s stock valued at $1,613,000 after buying an additional 4,519 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in Chatham Lodging Trust by 4.4% in the second quarter. Guggenheim Capital LLC now owns 244,530 shares of the company’s stock valued at $5,375,000 after buying an additional 10,394 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.
Chatham Lodging Trust Company Profile
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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