Chatham Lodging Trust (NYSE:CLDT) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Chatham Lodging Trust (NYSE:CLDT) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday, 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. “

Other analysts also recently issued reports about the company. B. Riley upped their price objective on Chatham Lodging Trust from $15.00 to $16.50 and gave the stock a buy rating in a research report on Tuesday, November 9th. TheStreet upgraded Chatham Lodging Trust from a d+ rating to a c rating in a research report on Monday, October 25th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Chatham Lodging Trust presently has a consensus rating of Buy and a consensus target price of $15.67.

CLDT opened at $13.83 on Tuesday. The firm has a market cap of $674.46 million, a P/E ratio of -53.19 and a beta of 1.96. Chatham Lodging Trust has a 52-week low of $10.55 and a 52-week high of $14.95. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.15 and a current ratio of 3.15. The business’s fifty day moving average is $13.11 and its 200-day moving average is $12.53.

Chatham Lodging Trust (NYSE:CLDT) last announced its quarterly earnings data on Thursday, November 4th. The real estate investment trust reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.08. Chatham Lodging Trust had a negative return on equity of 1.38% and a negative net margin of 6.00%. During the same quarter in the prior year, the company posted ($0.09) earnings per share. On average, research analysts predict that Chatham Lodging Trust will post 0.26 earnings per share for the current fiscal year.

In other news, CEO Jeffrey H. Fisher bought 10,000 shares of the company’s stock in a transaction on Friday, November 19th. The stock was purchased at an average cost of $12.52 per share, for a total transaction of $125,200.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.70% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of CLDT. Amundi Pioneer Asset Management Inc. raised its position in shares of Chatham Lodging Trust by 10.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 23,871 shares of the real estate investment trust’s stock worth $459,000 after acquiring an additional 2,209 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Chatham Lodging Trust by 46.0% during the second quarter. Russell Investments Group Ltd. now owns 111,802 shares of the real estate investment trust’s stock worth $1,437,000 after acquiring an additional 35,211 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Chatham Lodging Trust by 17.2% during the second quarter. PNC Financial Services Group Inc. now owns 6,265 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 920 shares during the last quarter. Citigroup Inc. raised its position in shares of Chatham Lodging Trust by 71.0% during the second quarter. Citigroup Inc. now owns 58,323 shares of the real estate investment trust’s stock worth $751,000 after acquiring an additional 24,212 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Chatham Lodging Trust by 4.1% during the second quarter. Principal Financial Group Inc. now owns 336,483 shares of the real estate investment trust’s stock worth $4,331,000 after acquiring an additional 13,352 shares during the last quarter. Institutional investors own 81.47% of the company’s stock.

About Chatham Lodging Trust

Chatham Lodging Trust engages in the acquisition and investment in hotel properties. It focuses on the upscale extended-stay and premium branded select-service hotels. The firm’s management evaluates the company’s hotels as a single industry segment because all of the hotels have similar economic characteristics and provide similar services to similar types of customers.

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