Brokerages Expect Chatham Lodging Trust (REIT) (CLDT) Will Post Quarterly Sales of $68.39 Million

Wall Street brokerages expect Chatham Lodging Trust (REIT) (NYSE:CLDT) to report $68.39 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Chatham Lodging Trust’s earnings, with the lowest sales estimate coming in at $67.90 million and the highest estimate coming in at $69.32 million. Chatham Lodging Trust posted sales of $67.24 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.7%. The firm is expected to issue its next quarterly earnings results before the market opens on Monday, February 26th.

According to Zacks, analysts expect that Chatham Lodging Trust will report full year sales of $68.39 million for the current year, with estimates ranging from $294.20 million to $297.85 million. For the next financial year, analysts forecast that the business will post sales of $304.52 million per share, with estimates ranging from $297.55 million to $312.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Chatham Lodging Trust.

Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $81.40 million during the quarter, compared to analyst estimates of $80.12 million. Chatham Lodging Trust had a net margin of 9.03% and a return on equity of 3.90%. Chatham Lodging Trust’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS.

Several analysts have weighed in on CLDT shares. Barclays upped their price objective on shares of Chatham Lodging Trust from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 1st. BidaskClub upgraded shares of Chatham Lodging Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, October 10th. Zacks Investment Research upgraded shares of Chatham Lodging Trust from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Friday, October 6th. Finally, B. Riley restated a “neutral” rating on shares of Chatham Lodging Trust in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $21.25.

Hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Chatham Lodging Trust by 305.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 771,332 shares of the real estate investment trust’s stock worth $16,444,000 after acquiring an additional 581,076 shares during the last quarter. Northern Trust Corp lifted its position in shares of Chatham Lodging Trust by 65.7% in the 2nd quarter. Northern Trust Corp now owns 1,078,405 shares of the real estate investment trust’s stock worth $21,665,000 after purchasing an additional 427,418 shares during the period. Vanguard Group Inc. lifted its position in shares of Chatham Lodging Trust by 8.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,927,364 shares of the real estate investment trust’s stock worth $98,990,000 after purchasing an additional 376,788 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Chatham Lodging Trust by 206.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 472,695 shares of the real estate investment trust’s stock valued at $10,759,000 after acquiring an additional 318,509 shares during the period. Finally, Principal Financial Group Inc. acquired a new position in shares of Chatham Lodging Trust during the 2nd quarter valued at $5,861,000. 76.74% of the stock is currently owned by hedge funds and other institutional investors.

Chatham Lodging Trust (NYSE:CLDT) opened at $23.11 on Monday. Chatham Lodging Trust has a twelve month low of $18.66 and a twelve month high of $23.91. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1,048.56, a PE ratio of 33.99 and a beta of 1.06.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Wednesday, January 31st will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend is Tuesday, January 30th. Chatham Lodging Trust’s dividend payout ratio (DPR) is 194.12%.

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Chatham Lodging Trust Company Profile

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). The Company owned 40 hotels with an aggregate of 5,939 rooms located in 16 states and the District of Columbia.

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