Analysts expect Chatham Lodging Trust (NYSE:CLDT) to announce sales of $89.05 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Chatham Lodging Trust’s earnings. The lowest sales estimate is $87.96 million and the highest is $90.60 million. Chatham Lodging Trust reported sales of $90.23 million during the same quarter last year, which indicates a negative year-over-year growth rate of 1.3%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, October 31st.
According to Zacks, analysts expect that Chatham Lodging Trust will report full year sales of $326.73 million for the current fiscal year, with estimates ranging from $324.16 million to $329.30 million. For the next financial year, analysts forecast that the business will post sales of $325.09 million, with estimates ranging from $317.61 million to $336.20 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Chatham Lodging Trust.
Several equities research analysts have issued reports on the company. Barclays set a $18.00 price target on Chatham Lodging Trust and gave the stock a “hold” rating in a report on Monday, August 12th. BMO Capital Markets assumed coverage on Chatham Lodging Trust in a report on Wednesday. They issued a “market perform” rating and a $17.00 price target for the company. B. Riley lowered their price target on Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. ValuEngine upgraded Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research upgraded Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. Five research analysts have rated the stock with a hold rating, The stock has a consensus rating of “Hold” and an average price target of $18.50.
The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, October 31st will be issued a dividend of $0.11 per share. The ex-dividend date is Wednesday, October 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.61%. Chatham Lodging Trust’s payout ratio is presently 67.69%.
In other news, Director Robert D. Perlmutter acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average cost of $16.40 per share, for a total transaction of $41,000.00. Following the completion of the acquisition, the director now owns 45,666 shares in the company, valued at $748,922.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.60% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of CLDT. Steward Partners Investment Advisory LLC bought a new position in Chatham Lodging Trust in the second quarter valued at approximately $25,000. Phocas Financial Corp. bought a new position in Chatham Lodging Trust in the second quarter valued at approximately $28,000. Bank of Montreal Can grew its stake in Chatham Lodging Trust by 1,116.0% in the second quarter. Bank of Montreal Can now owns 4,572 shares of the real estate investment trust’s stock valued at $86,000 after purchasing an additional 4,196 shares in the last quarter. Aperio Group LLC bought a new position in Chatham Lodging Trust in the second quarter valued at approximately $135,000. Finally, Assetmark Inc. grew its stake in Chatham Lodging Trust by 12.6% in the second quarter. Assetmark Inc. now owns 7,292 shares of the real estate investment trust’s stock valued at $138,000 after purchasing an additional 816 shares in the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.
Chatham Lodging Trust Company Profile
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. The company owns interests in 137 hotels totaling 18,783 rooms/suites, comprised of 42 properties it wholly owns with an aggregate of 6,283 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,500 rooms/suites.
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