Chatham Lodging Trust (NYSE:CLDT) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Chatham Lodging Trust (NYSE:CLDT) from a hold rating to a buy rating in a research note released on Monday, Zacks.com reports. The brokerage currently has $21.00 target price on the real estate investment trust’s stock.
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. “
CLDT has been the topic of a number of other reports. ValuEngine raised shares of Chatham Lodging Trust from a sell rating to a hold rating in a report on Wednesday, October 2nd. BMO Capital Markets initiated coverage on shares of Chatham Lodging Trust in a report on Wednesday, October 16th. They issued a market perform rating and a $17.00 target price on the stock. Finally, Barclays set a $18.00 price target on shares of Chatham Lodging Trust and gave the stock a hold rating in a report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Chatham Lodging Trust presently has an average rating of Hold and a consensus target price of $18.75.
Chatham Lodging Trust (NYSE:CLDT) last issued its quarterly earnings data on Thursday, October 31st. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.36). Chatham Lodging Trust had a return on equity of 2.62% and a net margin of 6.31%. The company had revenue of $90.08 million for the quarter, compared to analysts’ expectations of $89.05 million. As a group, research analysts expect that Chatham Lodging Trust will post 1.83 earnings per share for the current fiscal year.
The business also recently declared a monthly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.20%. Chatham Lodging Trust’s dividend payout ratio is presently 67.69%.
A number of hedge funds have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. grew its holdings in Chatham Lodging Trust by 10.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 23,871 shares of the real estate investment trust’s stock valued at $459,000 after buying an additional 2,209 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Chatham Lodging Trust during the 2nd quarter worth $25,000. Sumitomo Mitsui Trust Holdings Inc. increased its position in Chatham Lodging Trust by 90.8% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 50,420 shares of the real estate investment trust’s stock worth $951,000 after purchasing an additional 23,994 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Chatham Lodging Trust by 16.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,612 shares of the real estate investment trust’s stock valued at $257,000 after buying an additional 1,929 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Chatham Lodging Trust by 37.2% in the second quarter. Fisher Asset Management LLC now owns 29,918 shares of the real estate investment trust’s stock valued at $565,000 after buying an additional 8,107 shares during the period. 86.79% of the stock is currently owned by hedge funds and other institutional investors.
About Chatham Lodging Trust
Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 137 hotels totaling 18,783 rooms/suites, comprised of 42 properties it wholly owns with an aggregate of 6,283 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,500 rooms/suites.
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