Chatham Lodging Trust (NYSE:CLDT) Stock Rating Lowered by Zacks Investment Research

Chatham Lodging Trust (NYSE:CLDT) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks.com reports.

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. “

Several other research analysts have also recently commented on the company. Janney Montgomery Scott raised Chatham Lodging Trust from a “neutral” rating to a “buy” rating in a research report on Tuesday, January 5th. B. Riley raised their target price on shares of Chatham Lodging Trust from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Monday, March 1st. Finally, Barclays upped their price target on shares of Chatham Lodging Trust from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.56.

NYSE CLDT opened at $13.43 on Monday. The firm’s 50 day moving average is $13.68 and its 200-day moving average is $11.80. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $633.35 million, a PE ratio of -8.45 and a beta of 2.05. Chatham Lodging Trust has a 12-month low of $4.59 and a 12-month high of $14.95.

Chatham Lodging Trust (NYSE:CLDT) last issued its quarterly earnings results on Tuesday, February 23rd. The real estate investment trust reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.38. Chatham Lodging Trust had a negative net margin of 39.04% and a negative return on equity of 10.16%. As a group, sell-side analysts expect that Chatham Lodging Trust will post -0.33 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Davidson Kempner Capital Management LP acquired a new position in shares of Chatham Lodging Trust in the fourth quarter valued at $9,558,000. TCW Group Inc. boosted its holdings in shares of Chatham Lodging Trust by 210.9% during the 4th quarter. TCW Group Inc. now owns 569,421 shares of the real estate investment trust’s stock worth $6,150,000 after buying an additional 386,241 shares during the period. BlackRock Inc. grew its stake in Chatham Lodging Trust by 3.6% in the 4th quarter. BlackRock Inc. now owns 7,427,247 shares of the real estate investment trust’s stock valued at $80,213,000 after buying an additional 259,986 shares during the last quarter. SG Americas Securities LLC bought a new position in Chatham Lodging Trust in the 4th quarter valued at about $1,326,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Chatham Lodging Trust during the first quarter worth approximately $1,053,000. 76.00% of the stock is owned by institutional investors and hedge funds.

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. At September, 30, 2020, The company owns interests in 86 hotels totaling 12,040 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,092 rooms/suites in 15 states and the District of Columbia and a minority investment in the Innkeepers joint ventures that owns 46 hotels with an aggregate of 5,948 rooms/suites.

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