Condor Hospitality Trust, Inc. (CDOR) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Condor Hospitality Trust, Inc. (NASDAQ:CDOR) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning. The brokerage currently has $11.00 target price on the financial services provider’s stock.

According to Zacks, “Condor Hospitality Trust, Inc. is a self-administered real estate investment trust. The Company specializes in the investment and ownership of upper midscale and upscale, premium-branded select-service, extended stay and limited service hotels. Condor Hospitality Trust, Inc., formerly known as Supertel Hospitality, Inc., is based in Norfolk, United States. “

Several other brokerages have also recently commented on CDOR. Robert W. Baird started coverage on shares of Condor Hospitality Trust in a research report on Thursday, July 13th. They set a neutral rating and a $11.00 price target on the stock. ValuEngine cut shares of Condor Hospitality Trust from a hold rating to a sell rating in a research report on Monday, July 17th. Finally, FBR & Co started coverage on shares of Condor Hospitality Trust in a research report on Wednesday, September 13th. They set a buy rating and a $12.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $11.60.

Condor Hospitality Trust (NASDAQ CDOR) traded up 0.10% during trading on Tuesday, reaching $10.16. 623 shares of the company’s stock traded hands. The firm’s market cap is $118.16 million. Condor Hospitality Trust has a 12 month low of $8.13 and a 12 month high of $15.56. The firm has a 50 day moving average price of $10.36 and a 200-day moving average price of $10.49.

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The company also recently announced a quarterly dividend, which was paid on Monday, October 9th. Stockholders of record on Monday, October 2nd were issued a $0.195 dividend. The ex-dividend date was Friday, September 29th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 7.68%. Condor Hospitality Trust’s payout ratio is -8.22%.

In other news, CEO J William Blackham III bought 5,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were bought at an average cost of $10.49 per share, with a total value of $52,450.00. Following the acquisition, the chief executive officer now owns 181,385 shares in the company, valued at $1,902,728.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 44.20% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of CDOR. UBS Oconnor LLC bought a new stake in shares of Condor Hospitality Trust in the 1st quarter valued at about $1,325,000. Dubuque Bank & Trust Co. bought a new stake in shares of Condor Hospitality Trust in the 2nd quarter valued at about $887,000. Thomson Horstmann & Bryant Inc. raised its holdings in shares of Condor Hospitality Trust by 32.4% in the 2nd quarter. Thomson Horstmann & Bryant Inc. now owns 463,239 shares of the financial services provider’s stock valued at $4,956,000 after purchasing an additional 113,239 shares during the period. RMR Advisors LLC raised its holdings in shares of Condor Hospitality Trust by 17.9% in the 2nd quarter. RMR Advisors LLC now owns 68,655 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 10,400 shares during the period. Finally, Corbyn Investment Management Inc. MD raised its holdings in shares of Condor Hospitality Trust by 39.7% in the 2nd quarter. Corbyn Investment Management Inc. MD now owns 230,453 shares of the financial services provider’s stock valued at $2,466,000 after purchasing an additional 65,453 shares during the period. 21.20% of the stock is currently owned by institutional investors.

About Condor Hospitality Trust

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