Zacks Investment Research downgraded shares of Chatham Lodging Trust (NYSE:CLDT) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.
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. “
A number of other analysts also recently weighed in on CLDT. BidaskClub raised shares of Chatham Lodging Trust from a hold rating to a buy rating in a research report on Tuesday, October 10th. B. Riley reaffirmed a neutral rating on shares of Chatham Lodging Trust in a research report on Thursday, November 2nd. Cantor Fitzgerald reaffirmed a hold rating and issued a $20.00 target price on shares of Chatham Lodging Trust in a research report on Thursday, September 21st. Janney Montgomery Scott assumed coverage on shares of Chatham Lodging Trust in a research report on Friday, September 15th. They issued a neutral rating and a $21.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a hold rating and issued a $19.50 target price on shares of Chatham Lodging Trust in a research report on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Chatham Lodging Trust has an average rating of Hold and an average price target of $21.25.
Chatham Lodging Trust (NYSE:CLDT) traded down $0.20 during trading hours on Tuesday, hitting $22.39. 252,100 shares of the stock were exchanged, compared to its average volume of 355,800. The stock has a market cap of $905.14, a P/E ratio of 33.42 and a beta of 1.06. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.86. Chatham Lodging Trust has a 12-month low of $18.66 and a 12-month high of $23.91.
Chatham Lodging Trust (NYSE:CLDT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.01. The firm had revenue of $81.40 million for the quarter, compared to the consensus estimate of $80.12 million. Chatham Lodging Trust had a net margin of 9.03% and a return on equity of 3.90%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 EPS. analysts expect that Chatham Lodging Trust will post 2.16 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, December 29th will be given a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 5.90%. The ex-dividend date is Thursday, December 28th. Chatham Lodging Trust’s dividend payout ratio (DPR) is 197.01%.
A number of hedge funds have recently made changes to their positions in the stock. Belpointe Asset Management LLC purchased a new stake in Chatham Lodging Trust during the 3rd quarter valued at about $848,000. Stifel Financial Corp grew its position in Chatham Lodging Trust by 6.4% during the 3rd quarter. Stifel Financial Corp now owns 495,987 shares of the real estate investment trust’s stock valued at $10,588,000 after purchasing an additional 29,913 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Chatham Lodging Trust by 2.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 573,848 shares of the real estate investment trust’s stock valued at $12,234,000 after purchasing an additional 15,624 shares during the last quarter. Wells Fargo & Company MN grew its position in Chatham Lodging Trust by 42.5% during the 3rd quarter. Wells Fargo & Company MN now owns 60,448 shares of the real estate investment trust’s stock valued at $1,289,000 after purchasing an additional 18,027 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new stake in Chatham Lodging Trust during the 3rd quarter valued at about $112,000. 76.18% of the stock is currently owned by institutional investors.
About Chatham Lodging Trust
Chatham Lodging Trust is a real estate investment trust. The Company invests primarily in upscale extended-stay and premium-branded select-service hotels. All of the Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P. (the Operating Partnership). The Company owned 40 hotels with an aggregate of 5,939 rooms located in 16 states and the District of Columbia.
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