Chatham Lodging Trust (CLDT) Downgraded by Zacks Investment Research to Hold
Chatham Lodging Trust (NYSE:CLDT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.
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. “
Several other research analysts have also recently issued reports on CLDT. FBR & Co reiterated a “hold” rating and set a $20.00 target price on shares of Chatham Lodging Trust in a report on Friday. Cantor Fitzgerald reiterated a “hold” rating and set a $19.00 target price on shares of Chatham Lodging Trust in a report on Monday, March 6th. Stifel Nicolaus increased their target price on shares of Chatham Lodging Trust to $19.00 in a report on Thursday, February 23rd. Finally, Barclays PLC reiterated a “hold” rating and set a $21.00 target price on shares of Chatham Lodging Trust in a report on Tuesday, February 14th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.60.
Shares of Chatham Lodging Trust (NYSE:CLDT) traded up 0.64% during midday trading on Monday, hitting $18.94. 217,755 shares of the stock were exchanged. The stock has a market cap of $726.56 million, a P/E ratio of 22.28 and a beta of 0.98. The firm has a 50 day moving average of $19.52 and a 200-day moving average of $19.79. Chatham Lodging Trust has a 12 month low of $16.45 and a 12 month high of $24.80.
Chatham Lodging Trust (NYSE:CLDT) last issued its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Chatham Lodging Trust had a net margin of 11.34% and a return on equity of 4.82%. The company had revenue of $69.22 million for the quarter, compared to analysts’ expectations of $69.16 million. During the same period in the prior year, the business earned $0.46 EPS. The firm’s quarterly revenue was up .5% on a year-over-year basis. Equities research analysts anticipate that Chatham Lodging Trust will post $0.73 EPS for the current year.
The company also recently declared a monthly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.97%. The ex-dividend date is Friday, May 26th. Chatham Lodging Trust’s dividend payout ratio is currently 155.30%.
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Several hedge funds have recently added to or reduced their stakes in CLDT. California State Teachers Retirement System boosted its stake in Chatham Lodging Trust by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 70,998 shares of the real estate investment trust’s stock worth $1,454,000 after buying an additional 1,252 shares in the last quarter. Prudential Financial Inc. boosted its stake in Chatham Lodging Trust by 49.1% in the third quarter. Prudential Financial Inc. now owns 233,303 shares of the real estate investment trust’s stock worth $4,491,000 after buying an additional 76,820 shares in the last quarter. State Street Corp boosted its stake in Chatham Lodging Trust by 9.2% in the fourth quarter. State Street Corp now owns 774,357 shares of the real estate investment trust’s stock worth $15,909,000 after buying an additional 65,430 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Chatham Lodging Trust by 11.5% in the fourth quarter. Wells Fargo & Company MN now owns 80,037 shares of the real estate investment trust’s stock worth $1,639,000 after buying an additional 8,224 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Chatham Lodging Trust by 10.5% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 131,661 shares of the real estate investment trust’s stock worth $2,697,000 after buying an additional 12,495 shares in the last quarter. Institutional investors and hedge funds own 85.17% of the company’s stock.
About Chatham Lodging Trust
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). As of December 31, 2016, the Company owned 38 hotels with an aggregate of 5,712 rooms located in 15 states and the District of Columbia.
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