Chatham Lodging Trust (REIT) (CLDT) PT Raised to $22.00
Chatham Lodging Trust (REIT) (NYSE:CLDT) had its price target increased by Barclays PLC from $21.00 to $22.00 in a report issued on Wednesday morning. The brokerage currently has an equal weight rating on the real estate investment trust’s stock.
CLDT has been the subject of several other research reports. BidaskClub cut Chatham Lodging Trust (REIT) from a buy rating to a hold rating in a research note on Tuesday, October 3rd. JMP Securities raised Chatham Lodging Trust (REIT) from a market perform rating to an outperform rating in a research note on Monday, August 28th. Zacks Investment Research raised Chatham Lodging Trust (REIT) from a hold rating to a buy rating and set a $24.00 price target for the company in a research note on Friday, October 6th. Cantor Fitzgerald reissued a hold rating and issued a $20.00 price target on shares of Chatham Lodging Trust (REIT) in a research note on Thursday, September 21st. Finally, Janney Montgomery Scott initiated coverage on Chatham Lodging Trust (REIT) in a research note on Friday, September 15th. They issued a neutral rating and a $21.00 price target for the company. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $21.08.
Shares of Chatham Lodging Trust (NYSE:CLDT) opened at $22.42 on Wednesday. The firm has a market capitalization of $905.14, a PE ratio of 10.01 and a beta of 1.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.42 and a quick ratio of 1.62. Chatham Lodging Trust has a one year low of $16.74 and a one year high of $22.60.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last issued its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.01. The company had revenue of $81.40 million during the quarter, compared to analysts’ expectations of $80.12 million. Chatham Lodging Trust (REIT) had a return on equity of 3.90% and a net margin of 9.03%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 earnings per share. sell-side analysts expect that Chatham Lodging Trust will post 2.17 EPS for the current year.
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The firm also recently announced a monthly dividend, which will be paid on Friday, November 24th. Investors of record on Tuesday, October 31st will be given a dividend of $0.11 per share. The ex-dividend date is Monday, October 30th. This represents a $1.32 annualized dividend and a dividend yield of 5.89%. Chatham Lodging Trust (REIT)’s payout ratio is 194.12%.
In related news, Director Robert D. Perlmutter sold 2,566 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $20.37, for a total transaction of $52,269.42. Following the sale, the director now owns 33,258 shares in the company, valued at approximately $677,465.46. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.60% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in CLDT. Pinebridge Investments L.P. bought a new position in Chatham Lodging Trust (REIT) in the second quarter worth approximately $101,000. State of Alaska Department of Revenue bought a new position in Chatham Lodging Trust (REIT) in the second quarter worth approximately $151,000. Teachers Retirement System of The State of Kentucky bought a new position in Chatham Lodging Trust (REIT) in the second quarter worth approximately $167,000. Municipal Employees Retirement System of Michigan bought a new position in Chatham Lodging Trust (REIT) in the second quarter worth approximately $182,000. Finally, HighTower Advisors LLC bought a new position in Chatham Lodging Trust (REIT) in the first quarter worth approximately $208,000. Institutional investors and hedge funds own 81.52% of the company’s stock.
About Chatham Lodging Trust (REIT)
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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