Chatham Lodging Trust (CLDT) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Chatham Lodging Trust (NYSE:CLDT) from a hold rating to a sell rating in a research note released on Friday morning.

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. “

A number of other research analysts have also weighed in on CLDT. TheStreet raised shares of Chatham Lodging Trust from a c+ rating to a b- rating in a research note on Thursday, July 12th. Stifel Nicolaus reaffirmed a hold rating and issued a $20.00 price objective on shares of Chatham Lodging Trust in a research note on Wednesday, August 1st. B. Riley raised their price objective on shares of Chatham Lodging Trust from $20.00 to $21.00 and gave the company a neutral rating in a research note on Thursday, August 2nd. Finally, ValuEngine lowered shares of Chatham Lodging Trust from a hold rating to a sell rating in a research note on Wednesday, September 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Chatham Lodging Trust presently has an average rating of Hold and a consensus target price of $21.20.

NYSE:CLDT opened at $19.59 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $911.25 million, a price-to-earnings ratio of 9.15 and a beta of 1.10. Chatham Lodging Trust has a 12 month low of $17.90 and a 12 month high of $23.91.

Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Chatham Lodging Trust had a net margin of 11.28% and a return on equity of 4.46%. The business had revenue of $90.23 million during the quarter, compared to analysts’ expectations of $87.42 million. As a group, research analysts anticipate that Chatham Lodging Trust will post 1.91 EPS for the current year.

The company also recently declared a monthly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, October 31st will be given a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date is Tuesday, October 30th. Chatham Lodging Trust’s payout ratio is currently 61.68%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. raised its position in Chatham Lodging Trust by 137.2% in the second quarter. Assetmark Inc. now owns 5,296 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 3,063 shares during the period. OppenheimerFunds Inc. bought a new stake in Chatham Lodging Trust in the second quarter worth about $205,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Chatham Lodging Trust in the second quarter worth about $206,000. Piedmont Investment Advisors LLC bought a new stake in Chatham Lodging Trust in the second quarter worth about $227,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Chatham Lodging Trust in the first quarter worth about $237,000. 82.48% of the stock is currently owned by 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 135 hotels totaling 18,518 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,020 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 12,498 rooms/suites.

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