In a report released today, Bryan Maher from B.Riley FBR maintained a Hold rating on Chatham Lodging (CLDT), with a price target of $20. The company’s shares closed yesterday at $19.98.
Maher commented:
“Chatham (CLDT) posted 1Q19 results that exceeded both our and consensus expectations. AFFO/share of $0.35 beat our $0.33 estimate and the consensus estimate of $0.32. Adjusted EBITDA increased 2.6% above our $26.2M estimate and the consensus estimate of $26.0M. Hotel EBITDA margin was 35.3%, down 100 bps, but well above the company’s previously communicated expectations. Margins have been challenged by persistent payroll and benefits increases, which have been common in the lodging sector for the past two years. However, management noted on the earnings call that the rate of change has been decelerating, thus potentially helping to stabilize the margin degradation. Total revenues were $75.7M, slightly above $75.3M estimate.”
According to TipRanks.com, Maher is a 1-star analyst with an average return of -0.1% and a 50.5% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties Trust, Senior Housing Properties Trust, and Office Properties Income Trust.
Chatham Lodging has an analyst consensus of Hold, with a price target consensus of $20.
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Based on Chatham Lodging’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $253K. In comparison, last year the company had a net profit of $2.79 million.
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Chatham Lodging Trust engages in the acquisition and investment in hotel properties. It focuses on the upscale extended-stay and premium branded select-service hotels. The company was founded in 2009 and is headquartered in West Palm Beach, FL.
