Several other brokerages also recently weighed in on CLDT. Zacks Investment Research upgraded shares of Chatham Lodging Trust from a sell rating to a hold rating in a research report on Tuesday, July 12th. SunTrust Banks Inc. reduced their price objective on shares of Chatham Lodging Trust from $20.00 to $19.00 and set a neutral rating for the company in a research report on Thursday, August 4th. Barclays PLC downgraded shares of Chatham Lodging Trust from an overweight rating to an equal weight rating and reduced their price objective for the stock from $24.00 to $22.00 in a research report on Thursday, August 4th. Finally, Cantor Fitzgerald restated a buy rating on shares of Chatham Lodging Trust in a research report on Thursday, June 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. Chatham Lodging Trust has a consensus rating of Hold and a consensus price target of $21.67.
Chatham Lodging Trust (NYSE:CLDT) opened at 17.69 on Tuesday. The firm has a market capitalization of $676.48 million, a PE ratio of 19.90 and a beta of 1.03. Chatham Lodging Trust has a 1-year low of $16.12 and a 1-year high of $24.80. The company has a 50 day moving average of $19.46 and a 200 day moving average of $21.21.
Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.69 earnings per share 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 company had revenue of $78 million for the quarter, compared to analyst estimates of $78.81 million. During the same period in the previous year, the business posted $0.71 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts forecast that Chatham Lodging Trust will post $2.30 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Friday, November 25th. Stockholders of record on Monday, October 31st will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.46%. Chatham Lodging Trust’s payout ratio is 150.00%.
Several institutional investors have recently made changes to their positions in CLDT. Teacher Retirement System of Texas boosted its position 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. purchased a new position in shares of Chatham Lodging Trust during the second quarter valued at about $123,000. Societe Generale purchased a new position in shares of Chatham Lodging Trust during the second quarter valued at about $136,000. SG Americas Securities LLC purchased a new position in shares of Chatham Lodging Trust during the second quarter valued at about $136,000. Finally, PNC Financial Services Group Inc. boosted its position 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 valued at $136,000 after buying an additional 5,993 shares in the last quarter. 83.90% of the stock is currently owned by institutional investors and hedge funds.
Chatham Lodging Trust Company Profile
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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