Zacks Investment Research upgraded shares of Condor Hospitality Trust (NYSEAMERICAN:CDOR) from a hold rating to a buy rating in a report issued on Friday morning. The brokerage currently has $12.00 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. “
Separately, B. Riley set a $12.00 price target on Condor Hospitality Trust and gave the stock a buy rating in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $11.83.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 9th. Investors of record on Monday, April 2nd will be given a $0.195 dividend. The ex-dividend date is Thursday, March 29th. This represents a $0.78 dividend on an annualized basis and a yield of 7.59%. Condor Hospitality Trust’s payout ratio is currently 22.48%.
In other news, CEO J William Blackham III acquired 4,000 shares of Condor Hospitality Trust stock in a transaction that occurred on Wednesday, December 27th. The stock was purchased at an average price of $9.98 per share, for a total transaction of $39,920.00. Following the completion of the transaction, the chief executive officer now directly owns 185,385 shares in the company, valued at $1,850,142.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 44.20% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Deutsche Bank AG lifted its position in Condor Hospitality Trust by 120.4% in the fourth quarter. Deutsche Bank AG now owns 25,786 shares of the financial services provider’s stock valued at $256,000 after purchasing an additional 14,085 shares during the period. Renaissance Technologies LLC lifted its position in Condor Hospitality Trust by 167.2% in the fourth quarter. Renaissance Technologies LLC now owns 39,791 shares of the financial services provider’s stock valued at $396,000 after purchasing an additional 24,900 shares during the period. Bank of New York Mellon Corp acquired a new stake in Condor Hospitality Trust in the fourth quarter valued at about $494,000. Corbyn Investment Management Inc. MD lifted its position in Condor Hospitality Trust by 16.0% in the fourth quarter. Corbyn Investment Management Inc. MD now owns 266,298 shares of the financial services provider’s stock valued at $2,650,000 after purchasing an additional 36,635 shares during the period. Finally, Thomson Horstmann & Bryant Inc. lifted its position in Condor Hospitality Trust by 4.6% in the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 410,713 shares of the financial services provider’s stock valued at $4,086,000 after purchasing an additional 17,946 shares during the period. Hedge funds and other institutional investors own 21.20% of the company’s stock.
Condor Hospitality Trust Company Profile
Condor Hospitality Trust, Inc (NYSE American: CDOR) is a self-administered real estate investment trust that specializes in the investment and ownership of upper midscale and upscale, premium-branded, select-service, extended-stay, and limited-service hotels in the top 100 Metropolitan Statistical Areas (?MSAs?) with a particular focus on the top 20 to 60 MSAs.
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