Chatham Lodging Trust (NYSE:CLDT) had its price objective dropped by stock analysts at FBR & Co from $22.00 to $20.00 in a research report issued on Monday. The firm presently has a “mkt perform” rating on the stock. FBR & Co’s target price suggests a potential upside of 1.78% from the company’s previous close.
A number of other equities analysts have also commented on CLDT. Zacks Investment Research raised Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Tuesday, July 12th. Barclays PLC downgraded Chatham Lodging Trust from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $24.00 to $22.00 in a research report on Thursday, August 4th. SunTrust Banks Inc. lowered their price objective on Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, August 4th. Cantor Fitzgerald reiterated a “buy” rating and issued a $23.50 price objective on shares of Chatham Lodging Trust in a research report on Monday, August 8th. Finally, TheStreet downgraded Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research report on Monday, October 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $21.17.
Shares of Chatham Lodging Trust (NYSE:CLDT) opened at 19.65 on Monday. The company has a market cap of $751.57 million, a price-to-earnings ratio of 22.82 and a beta of 1.03. Chatham Lodging Trust has a 52-week low of $16.12 and a 52-week high of $24.80. The firm has a 50 day moving average price of $18.36 and a 200-day moving average price of $20.64.
Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.01. Chatham Lodging Trust had a return on equity of 4.82% and a net margin of 11.34%. The company earned $79.73 million during the quarter, compared to the consensus estimate of $80.51 million. During the same period in the previous year, the business earned $0.76 earnings per share. Chatham Lodging Trust’s revenue was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Chatham Lodging Trust will post $2.23 earnings per share for the current year.
The company also recently declared a monthly dividend, which will be paid on Friday, December 30th. Shareholders of record on Wednesday, November 30th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, November 28th. This represents a $1.32 dividend on an annualized basis and a yield of 6.72%. Chatham Lodging Trust’s payout ratio is 155.30%.
In related news, EVP Peter Willis acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were purchased at an average price of $17.44 per share, for a total transaction of $34,880.00. Following the completion of the acquisition, the executive vice president now owns 64,626 shares in the company, valued at $1,127,077.44. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Jeffrey H. Fisher acquired 25,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was bought at an average price of $17.35 per share, for a total transaction of $433,750.00. Following the acquisition, the chairman now owns 701,747 shares of the company’s stock, valued at approximately $12,175,310.45. The disclosure for this purchase can be found here. Company insiders own 3.30% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in Chatham Lodging Trust by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,371 shares of the company’s stock valued at $118,000 after buying an additional 647 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Chatham Lodging Trust during the second quarter valued at approximately $123,000. Societe Generale bought a new position in Chatham Lodging Trust during the second quarter valued at approximately $136,000. SG Americas Securities LLC bought a new position in Chatham Lodging Trust during the second quarter valued at approximately $136,000. Finally, PNC Financial Services Group Inc. increased its position in Chatham Lodging Trust by 2,937.7% in the second quarter. PNC Financial Services Group Inc. now owns 6,197 shares of the company’s stock valued at $136,000 after buying an additional 5,993 shares in the last quarter. Hedge funds and other institutional investors own 82.76% of the company’s stock.
About Chatham Lodging Trust