Shares of Chatham Lodging Trust (NYSE:CLDT) have received an average rating of “Hold” from the seven ratings firms that are currently covering the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $22.70.
CLDT has been the topic of a number of research analyst reports. Zacks Investment Research cut Chatham Lodging Trust from a “hold” rating to a “sell” rating in a report on Thursday, August 4th. SunTrust Banks Inc. reduced their target price on Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 4th. Cantor Fitzgerald reiterated a “buy” rating on shares of Chatham Lodging Trust in a report on Thursday, June 30th. FBR & Co lowered Chatham Lodging Trust from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $26.00 to $23.00 in a research report on Thursday, August 4th. Finally, Barclays PLC lowered Chatham Lodging Trust from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $24.00 to $22.00 in a research report on Thursday, August 4th.
Hedge funds have recently made changes to their positions in the company. Teacher Retirement System of Texas raised its stake in shares of Chatham Lodging Trust by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,371 shares of the company’s stock worth $118,000 after buying an additional 647 shares during the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Chatham Lodging Trust during the second quarter worth about $123,000. Societe Generale acquired a new stake in shares of Chatham Lodging Trust during the second quarter worth about $136,000. SG Americas Securities LLC acquired a new stake in shares of Chatham Lodging Trust during the second quarter worth about $136,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Chatham Lodging Trust by 2,937.7% in the second quarter. PNC Financial Services Group Inc. now owns 6,197 shares of the company’s stock worth $136,000 after buying an additional 5,993 shares during the last quarter. 83.95% of the stock is currently owned by institutional investors and hedge funds.
Chatham Lodging Trust (NYSE:CLDT) opened at 19.16 on Thursday. The stock’s 50 day moving average price is $20.21 and its 200 day moving average price is $21.38. Chatham Lodging Trust has a 52-week low of $16.12 and a 52-week high of $24.80. The firm has a market capitalization of $732.70 million, a PE ratio of 21.55 and a beta of 1.03.
Chatham Lodging Trust (NYSE:CLDT) last issued its earnings results on Wednesday, August 3rd. The company reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.02. Chatham Lodging Trust had a net margin of 11.72% and a return on equity of 4.93%. The firm earned $78 million during the quarter, compared to analyst estimates of $78.81 million. During the same quarter in the previous year, the business posted $0.71 EPS. Chatham Lodging Trust’s revenue was up 7.7% compared to the same quarter last year. Analysts expect that Chatham Lodging Trust will post $2.30 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, September 30th will be given a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.89%. The ex-dividend date is Wednesday, September 28th. Chatham Lodging Trust’s payout ratio is 150.00%.
About Chatham Lodging Trust
Chatham Lodging Trust is a real estate investment trust (REIT) organized to invest primarily in premium-branded upscale extended-stay and select-service hotels. The Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P (Operating Partnership). The Operating Partnership and its subsidiaries lease the Company’s hotels.
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