Zacks Investment Research upgraded shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) from a hold rating to a buy rating in a report published on Friday. Zacks Investment Research currently has $24.00 price objective on the real estate investment trust’s stock.
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 equities analysts have also recently issued reports on the stock. BidaskClub cut shares of Chatham Lodging Trust (REIT) from a buy rating to a hold rating in a research report on Tuesday, October 3rd. Cantor Fitzgerald restated a hold rating and issued a $20.00 price target on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, September 21st. Janney Montgomery Scott assumed coverage on shares of Chatham Lodging Trust (REIT) in a research report on Friday, September 15th. They issued a neutral rating and a $21.00 price target for the company. Stifel Nicolaus restated a hold rating and issued a $19.50 price target on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, September 7th. Finally, JMP Securities upgraded shares of Chatham Lodging Trust (REIT) from a market perform rating to an outperform rating in a research report on Monday, August 28th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $20.92.
Shares of Chatham Lodging Trust (NYSE:CLDT) opened at 21.51 on Friday. The company has a 50 day moving average of $20.71 and a 200-day moving average of $20.07. Chatham Lodging Trust has a one year low of $16.45 and a one year high of $21.72. The firm has a market cap of $842.50 million, a price-to-earnings ratio of 32.59 and a beta of 1.07.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.52). Chatham Lodging Trust (REIT) had a net margin of 8.73% and a return on equity of 3.76%. The business had revenue of $77.90 million during the quarter, compared to analyst estimates of $77.84 million. During the same quarter last year, the company posted $0.69 earnings per share. The company’s revenue was down .1% compared to the same quarter last year. On average, analysts expect that Chatham Lodging Trust will post $0.59 EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, September 29th will be given a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 6.14%. The ex-dividend date of this dividend is Thursday, September 28th. Chatham Lodging Trust (REIT)’s dividend payout ratio (DPR) is currently 200.00%.
In other Chatham Lodging Trust (REIT) news, Director Robert D. Perlmutter sold 2,566 shares of the company’s stock in a transaction that occurred on 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 directly owns 33,258 shares in the company, valued at approximately $677,465.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of CLDT. Pinebridge Investments L.P. acquired a new stake in shares of Chatham Lodging Trust (REIT) during the second quarter worth $101,000. State of Alaska Department of Revenue acquired a new stake in shares of Chatham Lodging Trust (REIT) during the second quarter worth $151,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Chatham Lodging Trust (REIT) during the second quarter worth $167,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Chatham Lodging Trust (REIT) during the second quarter worth $182,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Chatham Lodging Trust (REIT) during the first quarter worth $208,000. Institutional investors own 83.10% of the company’s stock.
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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