Chatham Lodging Trust (REIT) (CLDT) Issues Quarterly Earnings Results
Chatham Lodging Trust (REIT) (NYSE:CLDT) issued its quarterly earnings results on Tuesday. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01, Bloomberg Earnings reports. Chatham Lodging Trust (REIT) had a return on equity of 3.76% and a net margin of 8.73%. The firm had revenue of $81.40 million during the quarter, compared to analyst estimates of $80.12 million. During the same quarter in the previous year, the company posted $0.71 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. Chatham Lodging Trust (REIT) updated its FY17 guidance to $2.14-2.17 EPS.
Chatham Lodging Trust (NYSE:CLDT) traded up 1.4320% on Tuesday, hitting $21.4833. The stock had a trading volume of 23,162 shares. The firm has a market cap of $841.46 million, a price-to-earnings ratio of 32.5505 and a beta of 1.07. Chatham Lodging Trust has a 52-week low of $16.45 and a 52-week high of $22.36. The company’s 50 day moving average price is $21.40 and its 200 day moving average price is $20.33.
The business also recently disclosed a monthly dividend, which will be paid on Friday, November 24th. Stockholders of record on Tuesday, October 31st will be issued a $0.11 dividend. The ex-dividend date is Monday, October 30th. This represents a $1.32 annualized dividend and a dividend yield of 6.23%. Chatham Lodging Trust (REIT)’s dividend payout ratio is currently 200.00%.
Several equities research analysts have issued reports on the company. BidaskClub raised Chatham Lodging Trust (REIT) from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $20.00 price target on shares of Chatham Lodging Trust (REIT) in a research note on Thursday, September 21st. Janney Montgomery Scott assumed coverage on Chatham Lodging Trust (REIT) in a research note on Friday, September 15th. They set a “neutral” rating and a $21.00 price target for the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $19.50 price target on shares of Chatham Lodging Trust (REIT) in a research note on Thursday, September 7th. Finally, Zacks Investment Research lowered Chatham Lodging Trust (REIT) from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $20.92.
In related news, Director Robert D. Perlmutter sold 2,566 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $20.37, for a total value of $52,269.42. Following the completion of the transaction, the director now owns 33,258 shares of the company’s stock, valued at approximately $677,465.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by company insiders.
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About Chatham Lodging Trust (REIT)
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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