Wall Street analysts expect Chatham Lodging Trust (NYSE:CLDT) to report earnings of $0.57 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Chatham Lodging Trust’s earnings. The highest EPS estimate is $0.58 and the lowest is $0.56. Chatham Lodging Trust posted earnings of $0.61 per share in the same quarter last year, which would suggest a negative year over year growth rate of 6.6%. The firm is expected to announce its next quarterly earnings report before the market opens on Thursday, October 31st.
On average, analysts expect that Chatham Lodging Trust will report full-year earnings of $1.81 per share for the current year, with EPS estimates ranging from $1.79 to $1.82. For the next fiscal year, analysts forecast that the company will report earnings of $1.78 per share, with EPS estimates ranging from $1.66 to $1.84. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Chatham Lodging Trust.
CLDT has been the subject of a number of research analyst reports. Barclays set a $18.00 target price on shares of Chatham Lodging Trust and gave the stock a “hold” rating in a research note on Monday, August 12th. ValuEngine raised shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. B. Riley dropped their target price on shares of Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Zacks Investment Research raised shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, BMO Capital Markets initiated coverage on shares of Chatham Lodging Trust in a research note on Wednesday, October 16th. They issued a “market perform” rating and a $17.00 target price for the company. Five research analysts have rated the stock with a hold rating, Chatham Lodging Trust presently has an average rating of “Hold” and an average price target of $18.50.
The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Thursday, October 31st will be given a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.53%. The ex-dividend date of this dividend is Wednesday, October 30th. Chatham Lodging Trust’s dividend payout ratio is 67.69%.
In other Chatham Lodging Trust news, Director Robert D. Perlmutter purchased 2,500 shares of the stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $16.40 per share, for a total transaction of $41,000.00. Following the transaction, the director now directly owns 45,666 shares in the company, valued at $748,922.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.60% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Chatham Lodging Trust during the 2nd quarter worth approximately $25,000. Phocas Financial Corp. acquired a new stake in shares of Chatham Lodging Trust during the 2nd quarter worth approximately $2,783,000. Bank of Montreal Can grew its position in shares of Chatham Lodging Trust by 1,116.0% during the 2nd quarter. Bank of Montreal Can now owns 4,572 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 4,196 shares during the period. Aperio Group LLC acquired a new stake in shares of Chatham Lodging Trust during the 2nd quarter worth approximately $135,000. Finally, Assetmark Inc. grew its position in shares of Chatham Lodging Trust by 12.6% during the 2nd quarter. Assetmark Inc. now owns 7,292 shares of the real estate investment trust’s stock worth $138,000 after buying an additional 816 shares during the period. Institutional investors own 84.81% of the company’s stock.
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. 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.
Read More: Are we seeing the beginning of a new bubble?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Chatham Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chatham Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.