Zacks Investment Research downgraded shares of Chatham Lodging Trust (NYSE:CLDT) from a buy rating to a sell rating in a research note released on Tuesday, November 14th.
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 firms have also issued reports on CLDT. BidaskClub lowered shares of Chatham Lodging Trust from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Stifel Nicolaus reiterated a hold rating and set a $19.50 price target on shares of Chatham Lodging Trust in a research report on Thursday, September 7th. B. Riley reiterated a neutral rating on shares of Chatham Lodging Trust in a research report on Thursday, November 2nd. Barclays reiterated a hold rating on shares of Chatham Lodging Trust in a research report on Sunday, November 5th. Finally, Cantor Fitzgerald restated a hold rating and issued a $20.00 target price on shares of Chatham Lodging Trust in a research report on Thursday, September 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $21.08.
Chatham Lodging Trust (NYSE:CLDT) last announced its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Chatham Lodging Trust had a net margin of 17.80% and a return on equity of 8.38%. The company had revenue of $81.40 million for the quarter, compared to analysts’ expectations of $80.12 million. During the same period last year, the firm earned $0.71 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. sell-side analysts forecast that Chatham Lodging Trust will post 2.16 EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, November 30th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.82%. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 194.12%.
Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Chatham Lodging Trust by 77.4% during the second quarter. JPMorgan Chase & Co. now owns 190,256 shares of the real estate investment trust’s stock worth $3,822,000 after purchasing an additional 82,998 shares during the period. Great West Life Assurance Co. Can raised its stake in Chatham Lodging Trust by 1,268.3% during the second quarter. Great West Life Assurance Co. Can now owns 56,100 shares of the real estate investment trust’s stock worth $1,126,000 after buying an additional 52,000 shares during the last quarter. Virginia Retirement Systems ET AL raised its stake in Chatham Lodging Trust by 117.8% during the second quarter. Virginia Retirement Systems ET AL now owns 71,000 shares of the real estate investment trust’s stock worth $1,426,000 after buying an additional 38,400 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Chatham Lodging Trust by 11.9% during the second quarter. Russell Investments Group Ltd. now owns 50,574 shares of the real estate investment trust’s stock worth $1,016,000 after buying an additional 5,373 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Chatham Lodging Trust by 59.6% during the second quarter. Rhumbline Advisers now owns 82,329 shares of the real estate investment trust’s stock worth $1,654,000 after buying an additional 30,733 shares during the last quarter. Institutional investors own 76.24% of the company’s stock.
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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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