Wall Street brokerages expect Chatham Lodging (NYSE:CLDT) to post earnings per share (EPS) of $0.58 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Chatham Lodging’s earnings. The lowest EPS estimate is $0.57 and the highest is $0.59. Chatham Lodging posted earnings per share of $0.65 in the same quarter last year, which indicates a negative year over year growth rate of 10.8%. The business is expected to report its next earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that Chatham Lodging will report full-year earnings of $1.93 per share for the current year, with EPS estimates ranging from $1.91 to $1.95. For the next financial year, analysts expect that the company will report earnings of $1.97 per share, with EPS estimates ranging from $1.88 to $2.02. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Chatham Lodging.
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Chatham Lodging (NYSE:CLDT) last announced its quarterly earnings results on Tuesday, May 1st. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.29). Chatham Lodging had a return on equity of 3.69% and a net margin of 9.12%. The business had revenue of $74.03 million during the quarter, compared to the consensus estimate of $70.78 million.
CLDT has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Chatham Lodging from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine lowered shares of Chatham Lodging from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $20.00 price objective on shares of Chatham Lodging in a research note on Tuesday, February 27th. Barclays dropped their price objective on shares of Chatham Lodging from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 27th. Finally, Cantor Fitzgerald set a $20.00 price objective on shares of Chatham Lodging and gave the stock a “hold” rating in a research note on Thursday, March 1st. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.67.
In related news, COO Dennis M. Craven bought 2,215 shares of the stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average cost of $18.35 per share, with a total value of $40,645.25. Following the completion of the purchase, the chief operating officer now owns 85,943 shares of the company’s stock, valued at $1,577,054.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Peter Willis bought 2,000 shares of the stock in a transaction dated Wednesday, February 28th. The shares were bought at an average cost of $18.30 per share, with a total value of $36,600.00. Following the completion of the purchase, the executive vice president now directly owns 68,233 shares of the company’s stock, valued at approximately $1,248,663.90. The disclosure for this purchase can be found here. Insiders have bought 14,715 shares of company stock valued at $270,485 over the last three months. Insiders own 3.40% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Advisor Group Inc. boosted its stake in shares of Chatham Lodging by 91.0% during the fourth quarter. Advisor Group Inc. now owns 7,652 shares of the real estate investment trust’s stock valued at $174,000 after purchasing an additional 3,645 shares during the period. Aperio Group LLC purchased a new stake in shares of Chatham Lodging during the fourth quarter valued at $223,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Chatham Lodging during the first quarter valued at $237,000. BlueCrest Capital Management Ltd purchased a new stake in shares of Chatham Lodging during the fourth quarter valued at $257,000. Finally, AMP Capital Investors Ltd purchased a new stake in Chatham Lodging in the fourth quarter worth about $323,000. 88.21% of the stock is owned by hedge funds and other institutional investors.
CLDT traded up $0.19 during trading hours on Wednesday, hitting $19.55. The company’s stock had a trading volume of 208,600 shares, compared to its average volume of 345,774. Chatham Lodging has a 12 month low of $19.42 and a 12 month high of $19.58. The stock has a market capitalization of $900.91 million, a PE ratio of 9.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.39.
The business also recently announced a monthly dividend, which will be paid on Friday, June 29th. Stockholders of record on Thursday, May 31st will be paid a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.75%. The ex-dividend date is Wednesday, May 30th. Chatham Lodging’s dividend payout ratio is currently 61.68%.
About Chatham Lodging
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 135 hotels totaling 18,516 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,018 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 12,498 rooms/suites.
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