Trading Report: Today, Chatham Lodging Trust (CLDT) Downgraded by Zacks Investment Research

Today, Chatham Lodging Trust (CLDT) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Chatham Lodging Trust (NYSE:CLDT) from a hold rating to a sell rating in a report released on Wednesday 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. “

Several other analysts have also issued reports on CLDT. FBR & Co lowered shares of Chatham Lodging Trust from an outperform rating to a market perform rating and cut their price target for the company from $26.00 to $23.00 in a research report on Thursday, August 4th. Barclays PLC lowered shares of Chatham Lodging Trust from an overweight rating to an equal weight rating and dropped their target price for the stock from $24.00 to $22.00 in a report on Thursday, August 4th. Cantor Fitzgerald lowered shares of Chatham Lodging Trust from a buy rating to a hold rating and set a $19.00 target price for the company. in a report on Wednesday, October 12th. Finally, SunTrust Banks Inc. dropped their target price on shares of Chatham Lodging Trust from $20.00 to $19.00 and set a neutral rating for the company in a report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $21.67.

Shares of Chatham Lodging Trust (NYSE:CLDT) opened at 17.69 on Wednesday. The company has a market capitalization of $676.48 million, a price-to-earnings ratio of 19.90 and a beta of 1.03. The firm’s 50-day moving average price is $19.46 and its 200-day moving average price is $21.21. Chatham Lodging Trust has a one year low of $16.12 and a one year high of $24.80.

Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by $0.02. Chatham Lodging Trust had a net margin of 11.72% and a return on equity of 4.93%. The business had revenue of $78 million for the quarter, compared to analysts’ expectations of $78.81 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The business’s quarterly revenue was up 7.7% on a year-over-year basis. Analysts anticipate that Chatham Lodging Trust will post $2.30 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 25th. Shareholders 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 annualized dividend and a yield of 7.46%. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 150.00%.

Hedge funds have recently modified their holdings of the company. Schwab Charles Investment Management Inc. raised its stake in shares of Chatham Lodging Trust by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 133,931 shares of the company’s stock valued at $2,944,000 after buying an additional 2,340 shares during the period. Hillsdale Investment Management Inc. bought a new stake in shares of Chatham Lodging Trust during the second quarter valued at approximately $123,000. Stifel Financial Corp raised its stake in shares of Chatham Lodging Trust by 4.5% in the second quarter. Stifel Financial Corp now owns 190,742 shares of the company’s stock valued at $4,192,000 after buying an additional 8,228 shares during the period. Legal & General Group Plc raised its stake in shares of Chatham Lodging Trust by 6.6% in the second quarter. Legal & General Group Plc now owns 73,466 shares of the company’s stock valued at $1,613,000 after buying an additional 4,519 shares during the period. Finally, Guggenheim Capital LLC raised its stake in shares of Chatham Lodging Trust by 4.4% in the second quarter. Guggenheim Capital LLC now owns 244,530 shares of the company’s stock valued at $5,375,000 after buying an additional 10,394 shares during the period. Institutional investors and hedge funds own 83.90% of the company’s stock.

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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