Chatham Lodging Trust (NYSE:CLDT) Raised to Buy at Zacks Investment Research

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Zacks Investment Research upgraded shares of Chatham Lodging Trust (NYSE:CLDT) from a hold rating to a buy rating in a research report released on Monday, Zacks.com reports. They currently have $20.00 target price on the real estate investment trust’s stock.

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. “

CLDT has been the topic of several other reports. Barclays set a $18.00 price objective on shares of Chatham Lodging Trust and gave the company a hold rating in a report on Monday, August 12th. ValuEngine raised Chatham Lodging Trust from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, BMO Capital Markets initiated coverage on Chatham Lodging Trust in a research report on Wednesday, October 16th. They issued a market perform rating and a $17.00 target price for the company. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $18.50.

Shares of CLDT opened at $18.08 on Monday. The firm has a market cap of $858.72 million, a P/E ratio of 9.27 and a beta of 1.05. Chatham Lodging Trust has a 12-month low of $16.29 and a 12-month high of $21.74. The company’s 50-day moving average price is $17.98 and its 200 day moving average price is $18.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.74.

Chatham Lodging Trust (NYSE:CLDT) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.36). The company had revenue of $90.08 million during the quarter, compared to analysts’ expectations of $89.05 million. Chatham Lodging Trust had a net margin of 6.31% and a return on equity of 2.62%. Equities research analysts forecast that Chatham Lodging Trust will post 1.83 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 7.30%. The ex-dividend date is Wednesday, November 27th. Chatham Lodging Trust’s dividend payout ratio is currently 67.69%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its position in Chatham Lodging Trust by 5.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 17,283 shares of the real estate investment trust’s stock valued at $314,000 after acquiring an additional 842 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Chatham Lodging Trust by 16.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,612 shares of the real estate investment trust’s stock valued at $257,000 after acquiring an additional 1,929 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Chatham Lodging Trust by 20.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 22,618 shares of the real estate investment trust’s stock valued at $427,000 after acquiring an additional 3,843 shares in the last quarter. Bessemer Group Inc. grew its position in Chatham Lodging Trust by 5.3% in the 2nd quarter. Bessemer Group Inc. now owns 136,100 shares of the real estate investment trust’s stock valued at $2,568,000 after acquiring an additional 6,800 shares in the last quarter. Finally, Systematic Financial Management LP grew its position in shares of Chatham Lodging Trust by 90.9% during the third quarter. Systematic Financial Management LP now owns 539,384 shares of the real estate investment trust’s stock worth $9,790,000 after buying an additional 256,794 shares in the last quarter. 86.71% of the stock is owned by institutional investors.

Chatham Lodging Trust Company Profile

Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 137 hotels totaling 18,783 rooms/suites, comprised of 42 properties it wholly owns with an aggregate of 6,283 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,500 rooms/suites.

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