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

Chatham Lodging Trust (REIT) (NYSE:CLDT) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a note issued to investors on Tuesday.

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 analysts have also recently weighed in on the stock. BidaskClub cut shares of Chatham Lodging Trust (REIT) from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Barclays PLC raised their price objective on shares of Chatham Lodging Trust (REIT) from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 1st. JMP Securities raised shares of Chatham Lodging Trust (REIT) from a “market perform” rating to an “outperform” rating in a report on Monday, August 28th. B. Riley reissued a “neutral” rating on shares of Chatham Lodging Trust (REIT) in a report on Thursday, November 2nd. Finally, Cantor Fitzgerald reissued a “hold” rating and set a $20.00 price objective on shares of Chatham Lodging Trust (REIT) in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Chatham Lodging Trust (REIT) currently has an average rating of “Hold” and an average target price of $21.08.

Chatham Lodging Trust (CLDT) traded down $0.02 during midday trading on Tuesday, hitting $22.82. 449,200 shares of the stock traded hands, compared to its average volume of 326,648. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.86. Chatham Lodging Trust has a twelve month low of $18.66 and a twelve month high of $23.27. The stock has a market capitalization of $916.85, a price-to-earnings ratio of 10.20 and a beta of 1.03.

Chatham Lodging Trust (REIT) (NYSE:CLDT) last posted its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.01. Chatham Lodging Trust (REIT) had a net margin of 9.03% and a return on equity of 3.90%. The business had revenue of $81.40 million during the quarter, compared to analyst estimates of $80.12 million. During the same quarter last year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. analysts forecast that Chatham Lodging Trust will post 2.17 EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of CLDT. JPMorgan Chase & Co. grew its position in Chatham Lodging Trust (REIT) by 305.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 771,332 shares of the real estate investment trust’s stock valued at $16,444,000 after buying an additional 581,076 shares during the last quarter. Northern Trust Corp grew its position in Chatham Lodging Trust (REIT) by 65.7% in the 2nd quarter. Northern Trust Corp now owns 1,078,405 shares of the real estate investment trust’s stock valued at $21,665,000 after buying an additional 427,418 shares during the last quarter. Vanguard Group Inc. grew its position in Chatham Lodging Trust (REIT) by 8.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,927,364 shares of the real estate investment trust’s stock valued at $98,990,000 after buying an additional 376,788 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Chatham Lodging Trust (REIT) in the 2nd quarter valued at $5,861,000. Finally, Bank of New York Mellon Corp grew its position in Chatham Lodging Trust (REIT) by 90.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 610,776 shares of the real estate investment trust’s stock valued at $12,270,000 after buying an additional 289,400 shares during the last quarter. Hedge funds and other institutional investors own 76.69% of the company’s stock.

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.

Analyst Recommendations for Chatham Lodging Trust (REIT) (NYSE:CLDT)

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