B.Riley FBR analyst Bryan Maher maintained a Buy rating on Condor Hospitality Trust Inc (CDOR) yesterday and set a price target of $11. The company’s shares opened today at $8.50.
Maher observed:
“This morning, 3/11, Condor Hospitality Trust (CDOR) reported 4Q18 results that were in line with consensus estimates, but fell short of our expectations. Adjusted FFO per share came in at $0.20, in line with the consensus estimate of $0.20 but below our estimate of $0.23. Adjusted EBITDAre came in at $4.8M, above the consensus estimate of $4.7M but below our estimate of $5.0M. The miss to our estimates was primarily due to modest losses on JV interests ($469K) and derivatives and convertible debt ($402K). Same-property RevPAR improved 1.9% driven by ADR growth of 0.6% and occupancy growth of 1.3%. We had been modeling for 2.5% RevPAR growth, which we anticipated being driven by the newness (and still ramping occupancy) of several of the Condor hotels.”
According to TipRanks.com, Maher is a 1-star analyst with an average return of -0.9% and a 48.8% success rate. Maher covers the Financial sector, focusing on stocks such as Office Properties Income Trust, Braemar Hotels & Resorts Inc, and Community Healthcare Trust.
Condor Hospitality Trust Inc has an analyst consensus of Moderate Buy, with a price target consensus of $10.50.
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Condor Hospitality Trust Inc’s market cap is currently $102.7M and has a P/E ratio of 14.62. The company has a Price to Book ratio of 1.02.
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Condor Hospitality Trust, Inc. is a self-administered real estate investment trust, which engages in the investment and ownership of high-quality select-service, limited-service, extended stay, and compact full service hotels. The company was founded on August 23, 1994 and is headquartered in Norfolk, NE.
