Chatham Lodging Trust (NYSE:CLDT) Given New $19.00 Price Target at B. Riley

Chatham Lodging Trust (NYSE:CLDT) had its target price cut by B. Riley from $20.00 to $19.00 in a research note published on Friday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the real estate investment trust’s stock. B. Riley also issued estimates for Chatham Lodging Trust’s Q3 2019 earnings at $0.57 EPS, Q4 2019 earnings at $0.33 EPS, FY2019 earnings at $1.82 EPS, Q1 2020 earnings at $0.34 EPS, Q2 2020 earnings at $0.58 EPS, Q3 2020 earnings at $0.58 EPS, Q4 2020 earnings at $0.33 EPS, FY2020 earnings at $1.83 EPS and FY2021 earnings at $1.84 EPS.

Separately, Zacks Investment Research cut Chatham Lodging Trust from a hold rating to a sell rating in a research note on Wednesday, July 3rd.

CLDT traded down $0.20 on Friday, hitting $17.19. 7,738 shares of the company were exchanged, compared to its average volume of 248,213. Chatham Lodging Trust has a twelve month low of $17.09 and a twelve month high of $22.03. The stock has a market capitalization of $805.62 million, a P/E ratio of 8.81 and a beta of 1.08. The company has a current ratio of 1.51, a quick ratio of 1.25 and a debt-to-equity ratio of 0.73. The business has a 50-day moving average price of $18.72.

The business also recently announced a monthly dividend, which will be paid on Friday, August 30th. Investors of record on Wednesday, July 31st will be paid a dividend of $0.11 per share. The ex-dividend date is Tuesday, July 30th. This represents a $1.32 annualized dividend and a yield of 7.68%. Chatham Lodging Trust’s payout ratio is 67.69%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CLDT. Steward Partners Investment Advisory LLC acquired a new position in Chatham Lodging Trust during the 2nd quarter worth $25,000. Private Capital Group LLC grew its stake in Chatham Lodging Trust by 2,733.8% during the 1st quarter. Private Capital Group LLC now owns 1,927 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 1,859 shares in the last quarter. Advisory Services Network LLC grew its stake in Chatham Lodging Trust by 1,548.8% during the 4th quarter. Advisory Services Network LLC now owns 4,930 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 4,631 shares in the last quarter. Aperio Group LLC acquired a new position in Chatham Lodging Trust during the 2nd quarter worth $135,000. Finally, Daiwa Securities Group Inc. grew its stake in Chatham Lodging Trust by 16.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 7,600 shares of the real estate investment trust’s stock worth $146,000 after purchasing an additional 1,100 shares in the last quarter. 84.72% of the stock is 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. 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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