Chatham Lodging Trust (REIT) (NYSE:CLDT) posted its quarterly earnings data on Tuesday. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01, Bloomberg Earnings reports. 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 3.76% and a net margin of 8.73%. Chatham Lodging Trust (REIT)’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share. Chatham Lodging Trust (REIT) updated its FY17 guidance to $2.14-2.17 EPS.
Chatham Lodging Trust (NYSE CLDT) traded up 1.70% during mid-day trading on Tuesday, reaching $21.54. The company had a trading volume of 46,074 shares. The stock has a 50 day moving average price of $21.40 and a 200 day moving average price of $20.33. Chatham Lodging Trust has a one year low of $16.45 and a one year high of $22.36. The company has a market capitalization of $843.68 million, a P/E ratio of 32.64 and a beta of 1.07.
The business also recently announced a monthly dividend, which will be paid on Friday, November 24th. Investors of record on Tuesday, October 31st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.32 annualized dividend and a yield of 6.23%. Chatham Lodging Trust (REIT)’s payout ratio is presently 200.00%.
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CLDT has been the subject of several recent research reports. JMP Securities raised Chatham Lodging Trust (REIT) from a “market perform” rating to an “outperform” rating in a research report on Monday, August 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $19.50 price objective on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, September 7th. Janney Montgomery Scott initiated coverage on Chatham Lodging Trust (REIT) in a research report on Friday, September 15th. They set a “neutral” rating and a $21.00 price objective for the company. Cantor Fitzgerald reaffirmed a “hold” rating and set a $20.00 price objective on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, September 21st. Finally, BidaskClub raised Chatham Lodging Trust (REIT) from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Chatham Lodging Trust (REIT) presently has an average rating of “Hold” and a consensus price target of $20.92.
In other Chatham Lodging Trust (REIT) news, Director Robert D. Perlmutter sold 2,566 shares of Chatham Lodging Trust (REIT) 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 completion of the transaction, the director now owns 33,258 shares in the company, valued at approximately $677,465.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.60% of the stock is currently owned by insiders.
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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