Chatham Lodging Trust (CLDT) was Downgraded by Barclays to ” Equal Weight” while Lowering the Price Target of the company shares to $ 22 from a previous price target of $24 . Earlier the firm had a rating of “Overweight ” on the company shares. Barclays advised their investors in a research report released on Aug 4, 2016.
On the company’s financial health, Chatham Lodging Trust reported $0.69 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 3, 2016. Analyst had a consensus of $0.71. The company had revenue of $78.00 million for the quarter, compared to analysts expectations of $78.90 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS.
Chatham Lodging Trust closed down -0.5 points or -2.07% at $23.67 with 1,26,825 shares getting traded on Tusday. Post opening the session at $24.16, the shares hit an intraday low of $23.64 and an intraday high of $24.16 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on Jun 8, 2015, Jeffrey H Fisher (CEO) purchased 10,000 shares at $27.00 per share price.
Chatham Lodging Trust is a self-advised real estate investment trust (REIT) organized to invest primarily in premium-branded upscale extended-stay and select-service hotels. All of the Company’s assets are held by and all of its operations are conducted through Chatham Lodging L.P (Operating Partnership). The Operating Partnership and its subsidiaries lease the Company’s wholly owned hotels. As of December 31 2014 the Company owned 34 hotels with an aggregate of 5115 (unaudited) rooms located in 15 states in the United States and the District of Columbia. The Company primarily invests in upscale extended-stay hotels such as Homewood Suites by Hilton and Residence Inn by Marriott. It also invests in premium-branded select-service hotels such as Courtyard by Marriott Hampton Inn and Suites Hyatt Place Hilton Garden Inn by Hilton and SpringHill Suites by Marriott.