Chatham Lodging Trust (NYSE:CLDT) Hits New 1-Year High on Earnings Beat

Key Points

• Shares hit a 52-week high after Chatham Lodging Trust reported quarterly EPS of $0.46, beating the $0.05 consensus estimate; revenue of $90.92 million also topped expectations of $88.07 million.
• The REIT paid a quarterly dividend of $0.10 per share, equivalent to $0.40 annually and a 2.7% yield; its reported dividend payout ratio was 500%.
• Analysts’ average rating was “Moderate Buy,” with an average price target of $13.75. Ratings ranged from Strong Buy and Buy to Hold.

Chatham Lodging Trust (REIT) (NYSE:CLDT - Get Free Report)'s share price reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $15.76 and last traded at $15.11, with a volume of 30,631 shares traded. The stock had previously closed at $14.98.

The real estate investment trust reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.41. The business had revenue of $90.92 million for the quarter, compared to analysts' expectations of $88.07 million. Chatham Lodging Trust had a return on equity of 1.56% and a net margin of 4.00%.

Chatham Lodging Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.10 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.7%. Chatham Lodging Trust's dividend payout ratio (DPR) is presently 500.00%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CLDT shares. Weiss Ratings raised Chatham Lodging Trust from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Alliance Global Partners reaffirmed a "buy" rating on shares of Chatham Lodging Trust in a research note on Tuesday, August 4th. Wall Street Zen upgraded shares of Chatham Lodging Trust from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Stifel Nicolaus restated a "buy" rating and issued a $15.50 price objective (up from $15.00) on shares of Chatham Lodging Trust in a report on Friday, October 16th. Finally, Morgan Stanley cut shares of Chatham Lodging Trust to an "outperform" rating in a report on Friday, October 16th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $13.75.

Institutional Trading of Chatham Lodging Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its stake in Chatham Lodging Trust by 102.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,856 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 938 shares during the period. GAMMA Investing LLC raised its holdings in shares of Chatham Lodging Trust by 146.8% during the third quarter. GAMMA Investing LLC now owns 2,335 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 1,389 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Chatham Lodging Trust during the second quarter valued at $34,000. PNC Financial Services Group Inc. lifted its position in Chatham Lodging Trust by 1,071.1% during the first quarter. PNC Financial Services Group Inc. now owns 6,652 shares of the real estate investment trust's stock valued at $52,000 after purchasing an additional 6,084 shares during the period. Finally, Legal & General Group Plc purchased a new stake in Chatham Lodging Trust in the second quarter valued at $60,000. Hedge funds and other institutional investors own 88.37% of the company's stock.

Chatham Lodging Trust Stock Performance

The company has a debt-to-equity ratio of 0.28, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $701.76 million, a PE ratio of 186.71 and a beta of 1.11. The firm's fifty day simple moving average is $13.64 and its 200 day simple moving average is $11.02.

Chatham Lodging Trust Company Profile

Chatham Lodging Trust was a real estate investment trust that owned and operated upscale hotels and premium-branded select-service hotels in the United States. Its portfolio included properties affiliated with nationally recognized hotel brands, serving business and leisure travelers in urban, suburban and resort-oriented markets.

The company's lodging portfolio included full-service and select-service hotels operating under brands such as Hilton, Marriott and Hyatt. Chatham focused on acquiring, owning and enhancing hotel properties, while working with third-party management companies to oversee day-to-day operations.

Founded in 2009 and based in New York, Chatham Lodging Trust became a publicly traded company on the New York Stock Exchange in 2010.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.