Zacks: Brokerages Expect Chatham Lodging Trust (REIT) (CLDT) Will Announce Earnings of $0.67 Per Share

Wall Street analysts expect that Chatham Lodging Trust (REIT) (NYSE:CLDT) will announce earnings per share (EPS) of $0.67 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Chatham Lodging Trust (REIT)’s earnings. The lowest EPS estimate is $0.67 and the highest is $0.68. Chatham Lodging Trust (REIT) reported earnings per share of $0.34 during the same quarter last year, which suggests a positive year-over-year growth rate of 97.1%. The business is expected to report its next quarterly earnings results before the market opens on Tuesday, October 31st.

According to Zacks, analysts expect that Chatham Lodging Trust (REIT) will report full-year earnings of $2.17 per share for the current year, with EPS estimates ranging from $2.16 to $2.19. For the next fiscal year, analysts forecast that the company will report earnings of $2.18 per share, with EPS estimates ranging from $2.15 to $2.21. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that cover Chatham Lodging Trust (REIT).

Chatham Lodging Trust (REIT) (NYSE:CLDT) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.52). Chatham Lodging Trust (REIT) had a return on equity of 3.76% and a net margin of 8.73%. The company had revenue of $77.90 million for the quarter, compared to analyst estimates of $77.84 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. Chatham Lodging Trust (REIT)’s revenue was down .1% compared to the same quarter last year.

A number of analysts have weighed in on the stock. BidaskClub raised shares of Chatham Lodging Trust (REIT) from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Cantor Fitzgerald reissued a “hold” rating and set a $20.00 target price on shares of Chatham Lodging Trust (REIT) in a report on Thursday, September 21st. Janney Montgomery Scott assumed coverage on shares of Chatham Lodging Trust (REIT) in a report on Friday, September 15th. They issued a “neutral” rating and a $21.00 price objective on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $19.50 price objective on shares of Chatham Lodging Trust (REIT) in a report on Thursday, September 7th. Finally, Zacks Investment Research cut shares of Chatham Lodging Trust (REIT) from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $20.92.

Shares of Chatham Lodging Trust (NYSE CLDT) traded up 0.50% on Tuesday, reaching $22.27. 38,713 shares of the company’s stock traded hands. Chatham Lodging Trust has a 52 week low of $16.45 and a 52 week high of $22.32. The stock has a market capitalization of $872.27 million, a PE ratio of 33.74 and a beta of 1.07. The company has a 50 day moving average of $20.87 and a 200-day moving average of $20.11.

The business also recently announced a monthly dividend, which will be paid on Friday, November 24th. Investors of record on Tuesday, October 31st will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, October 30th. This represents a $1.32 dividend on an annualized basis and a yield of 5.96%. Chatham Lodging Trust (REIT)’s dividend payout ratio is presently 200.00%.

In related news, Director Robert D. Perlmutter sold 2,566 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $20.37, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pinebridge Investments L.P. bought a new position in shares of Chatham Lodging Trust (REIT) during the 2nd quarter valued at about $101,000. State of Alaska Department of Revenue bought a new position in shares of Chatham Lodging Trust (REIT) during the 2nd quarter valued at about $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 valued at about $167,000. Municipal Employees Retirement System of Michigan bought a new position in shares of Chatham Lodging Trust (REIT) during the 2nd quarter valued at about $182,000. Finally, HighTower Advisors LLC bought a new position in shares of Chatham Lodging Trust (REIT) during the 1st quarter valued at about $208,000. Hedge funds and other institutional investors own 83.10% of the company’s stock.

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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.

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