Chatham Lodging Trust (NYSE:CLDT) Downgraded by StockNews.com to “Sell”

StockNews.com downgraded shares of Chatham Lodging Trust (NYSE:CLDT) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

Separately, Barclays decreased their price objective on shares of Chatham Lodging Trust from $13.00 to $12.00 and set an overweight rating on the stock in a report on Wednesday, April 17th.

Chatham Lodging Trust Stock Performance

NYSE:CLDT opened at $7.93 on Tuesday. The firm has a market capitalization of $387.84 million, a PE ratio of -66.50 and a beta of 1.80. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 0.49. Chatham Lodging Trust has a 12-month low of $7.60 and a 12-month high of $11.32. The firm has a 50-day moving average price of $8.52 and a 200 day moving average price of $9.38.

Chatham Lodging Trust (NYSE:CLDT) last issued its earnings results on Friday, August 2nd. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.26). Chatham Lodging Trust had a net margin of 0.73% and a return on equity of 0.28%. The firm had revenue of $86.48 million during the quarter, compared to analyst estimates of $85.48 million. During the same quarter in the prior year, the firm posted $0.43 EPS. Research analysts anticipate that Chatham Lodging Trust will post 1.08 earnings per share for the current fiscal year.

Chatham Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.53%. The ex-dividend date was Friday, June 28th. Chatham Lodging Trust’s dividend payout ratio is -233.33%.

Insider Activity

In other Chatham Lodging Trust news, COO Dennis M. Craven bought 12,000 shares of Chatham Lodging Trust stock in a transaction dated Monday, June 10th. The shares were bought at an average price of $7.88 per share, with a total value of $94,560.00. Following the purchase, the chief operating officer now owns 110,943 shares of the company’s stock, valued at $874,230.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Chatham Lodging Trust

Several hedge funds have recently added to or reduced their stakes in CLDT. Quadrant Capital Group LLC grew its position in shares of Chatham Lodging Trust by 80.6% during the 4th quarter. Quadrant Capital Group LLC now owns 4,726 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 2,109 shares during the period. Meeder Asset Management Inc. bought a new position in Chatham Lodging Trust during the 2nd quarter worth approximately $46,000. Quest Partners LLC bought a new stake in Chatham Lodging Trust in the fourth quarter valued at approximately $70,000. Allspring Global Investments Holdings LLC increased its position in shares of Chatham Lodging Trust by 322.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,939 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 7,587 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Chatham Lodging Trust in the fourth quarter valued at about $125,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

Chatham Lodging Trust Company Profile

Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,915 rooms/suites in 16 states and the District of Columbia.