FBR & Co Reiterates Hold Rating for Chatham Lodging Trust (REIT) (CLDT)

FBR & Co reissued their hold rating on shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) in a report published on Friday, May 12th, Marketbeat reports. FBR & Co currently has a $20.00 target price 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 commented.

CLDT has been the topic of a number of other reports. Zacks Investment Research cut Chatham Lodging Trust (REIT) from a hold rating to a sell rating in a research note on Tuesday, February 28th. Barclays PLC reiterated a hold rating and set a $21.00 target price on shares of Chatham Lodging Trust (REIT) in a research report on Tuesday, February 14th. Cantor Fitzgerald reiterated a hold rating and set a $19.00 target price on shares of Chatham Lodging Trust (REIT) in a research report on Monday, March 6th. Finally, Stifel Nicolaus lifted their target price on Chatham Lodging Trust (REIT) 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 given a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $19.60.

Shares of Chatham Lodging Trust (NYSE:CLDT) traded up 0.40% during trading on Friday, hitting $20.22. The stock had a trading volume of 514,165 shares. The stock has a 50-day moving average price of $19.48 and a 200 day moving average price of $19.97. Chatham Lodging Trust has a 12 month low of $16.45 and a 12 month high of $24.80. The company has a market cap of $775.28 million, a P/E ratio of 23.79 and a beta of 1.09.

Chatham Lodging Trust (REIT) (NYSE:CLDT) last posted its quarterly earnings results on Tuesday, May 9th. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 company had revenue of $69.22 million for the quarter, compared to analysts’ expectations of $69.16 million. During the same period last year, the firm earned $0.46 earnings per share. Chatham Lodging Trust (REIT)’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts expect that Chatham Lodging Trust will post $0.73 EPS for the current fiscal year.

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

A number of large investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC raised its stake in shares of 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 worth $3,805,000 after buying an additional 1,435 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Chatham Lodging Trust (REIT) by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 467,578 shares of the real estate investment trust’s stock worth $9,609,000 after buying an additional 46,529 shares in the last quarter. State Street Corp raised its stake in shares of Chatham Lodging Trust (REIT) by 9.2% in the fourth quarter. State Street Corp now owns 774,357 shares of the real estate investment trust’s stock worth $15,909,000 after buying an additional 65,430 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Chatham Lodging Trust (REIT) during the third quarter worth $737,000. Finally, JPMorgan Chase & Co. raised its stake in shares of Chatham Lodging Trust (REIT) by 32.6% in the third quarter. JPMorgan Chase & Co. now owns 193,067 shares of the real estate investment trust’s stock worth $3,717,000 after buying an additional 47,497 shares in the last quarter. 83.70% of the stock is currently owned by institutional investors.

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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