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CLDT

Chatham Lodging

$18.82

0.19 (1.02%)

17:04
10/10/16
10/10
17:04
10/10/16
17:04

Chatham Lodging lowers Q3 RevPAR growth view to (2.1%) from (1%)-1%

Lowers Q3 adjusted EBITDA view to $37M-$37.5M from $38M-$39.5M. "We faced tough comparisons over a very strong 2015 third quarter when our occupancy reached an all-time high of 88 percent for our owned portfolio," noted Jeffrey Fisher, Chatham's president and CEO. "Our RevPAR recently was adversely impacted more than expected due to lower GDP growth that is restraining business travel, as well as new supply and a significant drop in demand in our oil-industry influenced Houston and western Pennsylvania markets. We have six hotels in those markets and those hotels experienced a RevPAR decline of 21 percent. This performance negatively impacted our RevPAR by approximately 200 basis points. Our reduced guidance with respect to adjusted EBITDA and FFO per share is reflective of reduced RevPAR performance, increased wage pressures and rising guest acquisition costs primarily from online travel agency commissions."

  • 29

    Nov

CLDT Chatham Lodging
$18.82

0.19 (1.02%)

01/11/16
01/11/16
NO CHANGE

JMP Securities lowers earnings estimates for hotel REITs
JMP Securities lowered its 2016 earnings estimates for hotel REITs because it says the group's growth decelerated throughout Q4. In conjunction with the note, the firm downgraded its ratings on Ashford Hospitality Prime (AHP), Ashford Hospitality (AHT), DiamondRock (DRH), and Host Hotels (HST) to Market Perform from Outperform. Within the space, JMP keeps Outperform ratings on Apple Hospitality REIT (APLE), Chatham Lodging (CLDT), Felcor Lodging (FCH), Hersha Hospitality (HT), Summit Hotel Properties (INN), Ryman Hospitality (RHP), and Sotherly Hotels (SOHO). However, it lowered its price targets on those names.
03/29/16
STFL
03/29/16
INITIATION
STFL
Hold
Chatham Lodging initiated with a Hold at Stifel
Target $26.
08/04/16
LEHM
08/04/16
DOWNGRADE
Target $22
LEHM
Equal Weight
Chatham Lodging downgraded to Equal Weight from Overweight at Barclays
Barclays analyst Anthony Powell downgraded Chatham Lodging Trust to Equal Weight citing the stock's year-to-date outperformance and a more negative RevPAR growth outlook. The analyst lowered his price target for the shares to $22 from $24.
08/04/16
08/04/16
DOWNGRADE
Target $23

Market Perform
Chatham Lodging downgraded to Market Perform from Outperform at FBR Capital
FBR Capital analyst Bryan Maher downgraded Chatham Lodging Trust to Market Perform citing the company's Q2 miss and a lack of near-term catalysts. The analyst lowered his price target for the shares to $23 from $26. Barclays this morning also downgraded Chatham Lodging.

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