Chatham Lodging Trust (REIT) (NYSE:CLDT) had its price objective lifted by equities research analysts at Barclays PLC from $21.00 to $22.00 in a research report issued to clients and investors on Wednesday. The firm currently has an “equal weight” rating on the real estate investment trust’s stock. Barclays PLC’s target price points to a potential upside of 1.15% from the company’s previous close.
Several other brokerages have also issued reports on CLDT. Zacks Investment Research raised Chatham Lodging Trust (REIT) from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Friday, October 6th. BidaskClub raised Chatham Lodging Trust (REIT) from a “hold” rating to a “buy” rating in a research report on Tuesday, October 10th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $20.00 target price on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, September 21st. Janney Montgomery Scott began coverage on Chatham Lodging Trust (REIT) in a research report on Friday, September 15th. They set a “neutral” rating and a $21.00 target price for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $19.50 target price on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, September 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $21.08.
Chatham Lodging Trust (CLDT) traded up 2.11% during trading on Wednesday, reaching $22.21. 224,945 shares of the company’s stock were exchanged. The firm has a market cap of $869.92 million, a price-to-earnings ratio of 33.65 and a beta of 1.07. The firm’s 50-day moving average price is $21.44 and its 200-day moving average price is $20.34. Chatham Lodging Trust has a 12 month low of $16.45 and a 12 month high of $22.60.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last announced its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. Chatham Lodging Trust (REIT) had a return on equity of 3.76% and a net margin of 8.73%. The firm had revenue of $81.40 million during the quarter, compared to analyst estimates of $80.12 million. During the same period last year, the firm posted $0.71 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Chatham Lodging Trust will post $0.59 EPS for the current year.
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In other news, Director Robert D. Perlmutter sold 2,566 shares of the stock in a transaction on 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of CLDT. Pinebridge Investments L.P. bought a new position in shares of Chatham Lodging Trust (REIT) during the 2nd quarter worth $101,000. State of Alaska Department of Revenue bought a new position in shares of Chatham Lodging Trust (REIT) during the 2nd quarter worth $151,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Chatham Lodging Trust (REIT) during the 2nd quarter worth $167,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Chatham Lodging Trust (REIT) during the 2nd quarter worth $182,000. Finally, HighTower Advisors LLC bought a new position in shares of Chatham Lodging Trust (REIT) during the 1st quarter worth $208,000. Institutional investors own 81.52% of the company’s stock.
Chatham Lodging Trust (REIT) Company Profile
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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