Chatham Lodging Trust (REIT) (CLDT) Downgraded to “Hold” at Zacks Investment Research

Chatham Lodging Trust (REIT) (NYSE:CLDT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, May 15th.

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 have also weighed in on the company. FBR & Co reaffirmed a “hold” rating and set a $20.00 price objective on shares of Chatham Lodging Trust (REIT) in a research report on Friday, May 12th. Barclays PLC reaffirmed a “hold” rating and set a $21.00 price objective on shares of Chatham Lodging Trust (REIT) in a research report on Tuesday, February 14th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $18.00 price objective on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, February 23rd. Finally, Stifel Nicolaus upped their price objective on Chatham Lodging Trust (REIT) to $19.00 in a research report on Thursday, February 23rd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.60.

Chatham Lodging Trust (NYSE:CLDT) traded up 0.40% on Monday, reaching $20.22. The company’s stock had a trading volume of 514,165 shares. The company has a 50 day moving average of $19.48 and a 200 day moving average of $19.97. The firm has a market capitalization of $775.28 million, a price-to-earnings ratio of 23.79 and a beta of 1.09. Chatham Lodging Trust has a 52 week low of $16.45 and a 52 week high of $24.80.

Chatham Lodging Trust (REIT) (NYSE:CLDT) last posted its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. Chatham Lodging Trust (REIT) had a return on equity of 4.79% and a net margin of 11.15%. The business had revenue of $69.22 million for the quarter, compared to analyst estimates of $69.16 million. During the same quarter in the prior year, the company earned $0.46 earnings per share. The company’s revenue was up .5% on a year-over-year basis. On average, analysts forecast that Chatham Lodging Trust will post $0.73 earnings per share for the current year.

The firm also recently announced a monthly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, June 30th will be issued a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 6.53%. The ex-dividend date of this dividend is Wednesday, June 28th. Chatham Lodging Trust (REIT)’s dividend payout ratio (DPR) is presently 157.14%.

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Institutional investors have recently bought and sold shares of the stock. Advantus Capital Management Inc raised its position in Chatham Lodging Trust (REIT) by 0.8% in the third quarter. Advantus Capital Management Inc now owns 52,503 shares of the real estate investment trust’s stock valued at $1,011,000 after buying an additional 421 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Chatham Lodging Trust (REIT) by 2.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 23,480 shares of the real estate investment trust’s stock valued at $452,000 after buying an additional 520 shares during the period. Quadrant Capital Management LLC raised its position in Chatham Lodging Trust (REIT) by 2.4% in the first quarter. Quadrant Capital Management LLC now owns 33,975 shares of the real estate investment trust’s stock valued at $671,000 after buying an additional 800 shares during the period. BNP Paribas Arbitrage SA raised its position in Chatham Lodging Trust (REIT) by 11.1% in the first quarter. BNP Paribas Arbitrage SA now owns 13,401 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 1,341 shares during the period. Finally, Mutual of America Capital Management LLC raised its position in Chatham Lodging Trust (REIT) by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 192,681 shares of the real estate investment trust’s stock valued at $3,805,000 after buying an additional 1,435 shares during the period. 83.70% of the stock is currently owned by hedge funds and other institutional investors.

Chatham Lodging Trust (REIT) Company Profile

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). As of December 31, 2016, the Company owned 38 hotels with an aggregate of 5,712 rooms located in 15 states and the District of Columbia.

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