Equities analysts expect Chatham Lodging Trust (NYSE:CLDT) to post sales of $87.42 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Chatham Lodging Trust’s earnings, with the lowest sales estimate coming in at $85.70 million and the highest estimate coming in at $90.46 million. Chatham Lodging Trust reported sales of $81.40 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.4%. The firm is scheduled to report its next earnings report before the market opens on Wednesday, October 31st.
On average, analysts expect that Chatham Lodging Trust will report full year sales of $317.29 million for the current year, with estimates ranging from $313.00 million to $325.17 million. For the next year, analysts expect that the company will post sales of $323.87 million, with estimates ranging from $312.75 million to $333.56 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Chatham Lodging Trust.
Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.29). Chatham Lodging Trust had a net margin of 11.54% and a return on equity of 4.61%. The business had revenue of $86.59 million for the quarter, compared to analysts’ expectations of $83.34 million.
CLDT has been the subject of several research reports. Zacks Investment Research lowered shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. ValuEngine lowered shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, September 19th. Stifel Nicolaus reaffirmed a “hold” rating and set a $20.00 price target on shares of Chatham Lodging Trust in a research report on Wednesday, August 1st. TheStreet raised shares of Chatham Lodging Trust from a “c+” rating to a “b-” rating in a research report on Thursday, July 12th. Finally, B. Riley increased their target price on shares of Chatham Lodging Trust from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $21.20.
In related news, Director C Gerald Goldsmith sold 1,800 shares of the stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $21.65, for a total value of $38,970.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 3.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CLDT. Assetmark Inc. increased its holdings in Chatham Lodging Trust by 137.2% in the 2nd quarter. Assetmark Inc. now owns 5,296 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 3,063 shares in the last quarter. OppenheimerFunds Inc. bought a new position in Chatham Lodging Trust in the 2nd quarter worth approximately $205,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Chatham Lodging Trust in the 2nd quarter worth approximately $206,000. Piedmont Investment Advisors LLC bought a new position in Chatham Lodging Trust in the 2nd quarter worth approximately $227,000. Finally, Cubist Systematic Strategies LLC bought a new position in Chatham Lodging Trust in the 1st quarter worth approximately $237,000. 82.44% of the stock is owned by institutional investors.
NYSE CLDT opened at $19.28 on Friday. Chatham Lodging Trust has a 52 week low of $17.90 and a 52 week high of $23.91. The stock has a market cap of $958.41 million, a PE ratio of 9.01 and a beta of 1.15. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.66.
The company also recently announced a monthly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, September 28th will be issued a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 6.85%. The ex-dividend date of this dividend is Thursday, September 27th. Chatham Lodging Trust’s dividend payout ratio is 61.68%.
Chatham Lodging Trust Company Profile
Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 135 hotels totaling 18,518 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,020 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,498 rooms/suites.
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