FBR & Co restated their hold rating on shares of Chatham Lodging Trust (NYSE:CLDT) in a research note published on Friday. FBR & Co currently has a $20.00 price objective on the real estate investment trust’s stock.
“Chatham reported a slight beat to 1Q17 expectations as RevPAR of 1.2% was above the expected 0% to 1% range. Adjusted EBITDA of $28.1 million exceeded our $27.4 million estimate and the consensus of $27.6 million. AFFO/share of $0.47 was above our $0.44 estimate and the consensus of $0.45. The 1Q17 beat was aided by a 70- bp increase in hotel EBITDA margins. RevPAR was positively impacted by CLDT’s two Washington, D.C., hotels (+8.4% RevPAR) and its three San Diego hotels (+3.4%) and was negatively impacted by its four Houston hotels (–3.6%) and its two Los Angeles area hotels (–3.8%). Otherwise, it was a fairly uneventful quarter. Although management is looking for acquisitions, it is not finding values to be attractive for buyers. In fact, it may opt to sell one or two hotels if it can achieve the proper pricing. It is still value-engineering its two pending Silicon Valley expansions but has yet to begin construction. In short, it was a modest beat, but otherwise not much going on.”,” the firm’s analyst wrote.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Chatham Lodging Trust from a sell rating to a hold rating in a research report on Monday, March 27th. Barclays PLC reaffirmed a hold rating and issued a $21.00 price target on shares of Chatham Lodging Trust in a research report on Tuesday, February 14th. Cantor Fitzgerald reaffirmed a hold rating and issued a $18.00 price target on shares of Chatham Lodging Trust in a research report on Thursday, February 23rd. Finally, Stifel Nicolaus upped their price target on shares of Chatham Lodging Trust to $19.00 in a research report on Thursday, February 23rd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $19.60.
Shares of Chatham Lodging Trust (NYSE:CLDT) opened at 18.93 on Friday. Chatham Lodging Trust has a one year low of $16.45 and a one year high of $24.80. The firm has a 50-day moving average of $19.51 and a 200 day moving average of $19.83. The stock has a market capitalization of $726.17 million, a price-to-earnings ratio of 22.27 and a beta of 0.98.
Chatham Lodging Trust (NYSE:CLDT) last issued its earnings results on Tuesday, May 9th. The real estate investment trust reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. The business had revenue of $69.22 million for the quarter, compared to the consensus estimate of $69.16 million. Chatham Lodging Trust had a net margin of 11.34% and a return on equity of 4.82%. The company’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 EPS. On average, equities research analysts predict that Chatham Lodging Trust will post $0.73 EPS for the current year.
The company also recently announced a monthly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be given a dividend of $0.11 per share. The ex-dividend date is Friday, May 26th. This represents a $1.32 dividend on an annualized basis and a yield of 6.97%. Chatham Lodging Trust’s payout ratio is 155.30%.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Chatham Lodging Trust by 1.8% in the first quarter. Vanguard Group Inc. now owns 4,550,576 shares of the real estate investment trust’s stock worth $89,874,000 after buying an additional 81,111 shares during the last quarter. AEW Capital Management L P boosted its stake in Chatham Lodging Trust by 0.7% in the third quarter. AEW Capital Management L P now owns 1,604,200 shares of the real estate investment trust’s stock worth $30,881,000 after buying an additional 11,718 shares during the last quarter. Crow Point Partners LLC purchased a new stake in Chatham Lodging Trust during the third quarter worth approximately $24,074,000. State Street Corp boosted its stake in Chatham Lodging Trust by 14.0% in the first quarter. State Street Corp now owns 882,768 shares of the real estate investment trust’s stock worth $17,438,000 after buying an additional 108,411 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Chatham Lodging Trust by 49.1% in the first quarter. LSV Asset Management now owns 801,567 shares of the real estate investment trust’s stock worth $15,830,000 after buying an additional 263,902 shares during the last quarter. 85.17% of the stock is owned by institutional investors.
About Chatham Lodging Trust
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.
What are top analysts saying about Chatham Lodging Trust? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Chatham Lodging Trust and related companies.