Chatham Lodging Trust (CLDT) Stock Rating Lowered by Zacks Investment Research

Chatham Lodging Trust (NYSE:CLDT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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. “

Other equities research analysts have also issued research reports about the company. Barclays PLC lowered Chatham Lodging Trust from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $24.00 to $22.00 in a research report on Thursday, August 4th. Cantor Fitzgerald reiterated a “buy” rating and issued a $23.50 price target on shares of Chatham Lodging Trust in a research report on Monday, August 8th. FBR & Co lowered Chatham Lodging Trust from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $26.00 to $23.00 in a research report on Thursday, August 4th. Finally, SunTrust Banks Inc. reduced their price target on Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. Chatham Lodging Trust currently has an average rating of “Hold” and a consensus price target of $21.67.

Analyst Recommendations for Chatham Lodging Trust (NYSE:CLDT)

Shares of Chatham Lodging Trust (NYSE:CLDT) opened at 17.84 on Wednesday. The firm has a market cap of $682.22 million, a price-to-earnings ratio of 20.07 and a beta of 1.03. Chatham Lodging Trust has a 12 month low of $16.12 and a 12 month high of $24.80. The company has a 50-day moving average price of $19.57 and a 200-day moving average price of $21.24.

Chatham Lodging Trust (NYSE:CLDT) last issued its earnings results on Wednesday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by $0.02. Chatham Lodging Trust had a return on equity of 4.93% and a net margin of 11.72%. The firm earned $78 million during the quarter, compared to analyst estimates of $78.81 million. During the same period in the previous year, the company earned $0.71 EPS. Chatham Lodging Trust’s revenue for the quarter was up 7.7% on a year-over-year basis. Analysts forecast that Chatham Lodging Trust will post $2.30 earnings per share for the current fiscal year.

The firm also recently announced a monthly dividend, which will be paid on Friday, November 25th. Investors of record on Monday, October 31st will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.32 annualized dividend and a dividend yield of 7.40%. Chatham Lodging Trust’s payout ratio is 150.00%.

Large investors have recently made changes to their positions in the stock. Schwab Charles Investment Management Inc. raised its stake in shares of Chatham Lodging Trust by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 133,931 shares of the company’s stock valued at $2,944,000 after buying an additional 2,340 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of Chatham Lodging Trust during the second quarter valued at about $123,000. Stifel Financial Corp raised its position in shares of Chatham Lodging Trust by 4.5% in the second quarter. Stifel Financial Corp now owns 190,742 shares of the company’s stock valued at $4,192,000 after buying an additional 8,228 shares during the last quarter. Legal & General Group Plc raised its position in shares of Chatham Lodging Trust by 6.6% in the second quarter. Legal & General Group Plc now owns 73,466 shares of the company’s stock valued at $1,613,000 after buying an additional 4,519 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of Chatham Lodging Trust by 4.4% in the second quarter. Guggenheim Capital LLC now owns 244,530 shares of the company’s stock valued at $5,375,000 after buying an additional 10,394 shares during the last quarter. Institutional investors own 83.95% of the company’s stock.

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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