Brokerages predict that Chatham Lodging Trust (NYSE:CLDT) will announce sales of $34.88 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Chatham Lodging Trust's earnings, with estimates ranging from $27.89 million to $38.77 million. Chatham Lodging Trust posted sales of $74.70 million during the same quarter last year, which suggests a negative year-over-year growth rate of 53.3%. The firm is expected to report its next quarterly earnings results on Wednesday, February 24th.
According to Zacks, analysts expect that Chatham Lodging Trust will report full-year sales of $149.06 million for the current financial year, with estimates ranging from $140.07 million to $154.12 million. For the next year, analysts anticipate that the business will post sales of $217.63 million, with estimates ranging from $206.27 million to $228.00 million. Zacks Investment Research's sales averages are a mean average based on a survey of research firms that that provide coverage for Chatham Lodging Trust.
Chatham Lodging Trust (NYSE:CLDT) last announced its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported ($0.38) EPS for the quarter, missing the Thomson Reuters' consensus estimate of ($0.09) by ($0.29). Chatham Lodging Trust had a negative net margin of 39.04% and a negative return on equity of 10.16%.
CLDT has been the subject of a number of recent analyst reports. B. Riley lowered Chatham Lodging Trust from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $9.00 to $11.00 in a research note on Wednesday, December 2nd. Janney Montgomery Scott upgraded Chatham Lodging Trust from a "neutral" rating to a "buy" rating in a research note on Tuesday, January 5th. Barclays reiterated a "hold" rating and set a $13.00 price objective on shares of Chatham Lodging Trust in a research report on Sunday, December 13th. Finally, Zacks Investment Research cut Chatham Lodging Trust from a "hold" rating to a "sell" rating in a report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of "Hold" and an average target price of $9.05.
Shares of CLDT stock opened at $12.52 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.99 and a current ratio of 2.99. The stock has a fifty day simple moving average of $11.45 and a two-hundred day simple moving average of $8.30. The firm has a market capitalization of $588.09 million, a PE ratio of -7.87 and a beta of 2.05. Chatham Lodging Trust has a 52-week low of $3.44 and a 52-week high of $18.21.
Several institutional investors and hedge funds have recently added to or reduced their stakes in CLDT. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Chatham Lodging Trust by 10.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 23,871 shares of the real estate investment trust's stock valued at $459,000 after purchasing an additional 2,209 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Chatham Lodging Trust by 4.4% in the 2nd quarter. California Public Employees Retirement System now owns 105,727 shares of the real estate investment trust's stock valued at $647,000 after buying an additional 4,408 shares in the last quarter. Bank of Montreal Can grew its position in shares of Chatham Lodging Trust by 681.8% in the 2nd quarter. Bank of Montreal Can now owns 4,652 shares of the real estate investment trust's stock worth $25,000 after buying an additional 4,057 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Chatham Lodging Trust during the 2nd quarter worth approximately $289,000. Finally, Tudor Investment Corp Et Al purchased a new stake in Chatham Lodging Trust during the second quarter valued at approximately $121,000. 76.00% of the stock is currently owned by hedge funds and other 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. 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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