Chatham Lodging Trust (NYSE:CLDT): Q3 FFO of $0.21 beats by $0.01.
Revenue of $64.29M (+83.9% Y/Y) beats by $2.17M.
No hint at restoring the common stock dividend on the Earnings call though.
New hotels have very good occupancy rates and most forward projections look very promising.
R
Here's just a partial excerpt from today's Business Update by Chatham Lodging Trust
"RevPAR has more than doubled since December, portfolio-wide occupancy of 70% in May is strong, and I am particularly excited to see sequential RevPAR growth of 17% from April to May compared to 14% from March to April," highlighted Jeffrey H. Fisher, Chatham’s president and chief executive officer. "Leisure travel continues to lead the lodging recovery, and our northeastern leisure markets in New Hampshire and Maine are poised for strong summers after being shut down for half of the 2020 summer season. In Anaheim, Disney is opening the park to residents outside of California on June 15th and also is expected to increase capacity which bodes well for our Residence Inn in the market. Corporate demand is coming back in spurts in areas such as Silicon Valley, our largest market, as well as others like Washington, D.C and Bellevue, Wash. In Houston, health-care related business is returning to the Texas Medical Center, and we own four hotels in close proximity to it. For our portfolio, which appeals to a diverse set of customers, this portends well for continued, meaningful recovery in the summer and second half of the year."
J
This company is next in line to go up big. The Courtyards, Embassy Suites, Hampton Inn & Suites, Hiltons, Homewood Suites, Hyatt's, and Residence Inn's rooms are getting booked. These are the hotels that are affordable, clean and have good amenities for the travelers. Its selling way below its pre covid price and there is still a good amount of short interest. Given what has happened to other REITS stock prices with hotels (APLE and HST) I see this trading around $18. Holding long and strong.
i
Innkeeperss did a great job or riding the demand both ways. Pepe said, and I agree, that this is the only company that can be this spot on in managing demand. There will be a limit on rate as occupany moves due to loss of a good bit of high value local corporate which is ESSENTIAL to REVPAR and profit in high occupany environment. I seriously doubt Marriott and Hilton will allow dumbing down or cancelling breakfast and evening functions and food cost will be up dramatically. Labor will also be higher due to increasing number of "living"wages and if Joee Biden is elected labor cpsts as well as benefits will shoot up. Someone stated on the call that wages would be dropping. That simply will not happen. But again, Fisher and Co. do an exceptional job on both top and bottom line. You dont necessarily want to work there, but definitely to be trusted to take care of your invested $$$
T
So it's trading at 30% of its one year high or 13.00. Now you can wait a year and buy it at 12.00 to 15 when they start paying dividends again or you can buy now at a 70% discount and ride it out. dividends would be about 2.00. I expect them to not pay dividends until cash flow normalizes.
R
Bought back in at the low today. Can't pass up this price or yield.
J
This stock at this price point is probably one of the best bargains on the market. When Covid is over and the dividend comes back it will be a $20 stock again.
E
Going ton add more in blocks. I think they can pay the div for a couple months without issue. If this clears up stock goes up.
If they have to cut the dividend stock will drop more. If the do cut they emphasize it is a temporary cut
R
I got in last week at $12.90. It seems to me that the negative share price reaction to the Earnings Report was excessive. At some point in the near future, CLDT will restore it's dividend (maybe not the full amount up front, but at least 50% of it to start).
This is a good entry point for anyone wanting to go Long.
Good Luck to all CLDT Investors.
c
If Austin properties deliver 8-8.5% noi along with LA hotel complex completion this year. Increase revenues. Also, once LA project complete they will refinance debt with lower % rate! Also their revpar really ticked up and they said summer weaker for them is weaker yet fall they said revenues should increase.
J
Heading back to 20/share and returning the dividend.
G
One of my favorite Dividend stocks. Dumped at 21ish but back in today at 17.20. What a bargain! I hope it goes lower because I would’ve love to own more.
N
Sold 75% of my position in this stock today. Kept 25% for the possible recovery in 2 to 3 years...
p
Fisher needs to bring back some dividends even at 50% discount from before
R
This new forecast came in today for CLDT:
Barclays analyst Anthony Powell maintains Chatham Lodging (NYSE:CLDT) with a Equal-Weight and raises the price target from $15 to $16
Nice to see the target price being raised.
E
Question this has been one of my buy and hold and not look at it stocks. I actually have not opened the brokerage account this is in, in over 3 years.
$10 down in price, but dividend has doubled almost? I reinvest but my question is this. Anyone know off the top of their head if there debt is fixed or variable for the most part and how higher rates will impact ffo?
Also anyone know why the drop?
Z
Nice uptick today....I still believe this stock is still undervalued. I'm just waiting for a dividend to be reinstated. When that happens, the share price should jump again (how much will depend on what the dividend is).
Good Luck All
C
Thought 69 was more savvy than to get all hot and bothered over near term price changes. Fisher isn't looking for a 3-day trade, he's thinking long term and 6 months from now he'll be certain to have made money off his recent trades. 69 you may want to follow suit or are you still unhappy you didn't buy at $5 when you were bashing the stock the same way you are now.
J
I've owned this for years unfortunately at $17 it is not appreciated.... but that monthly dividend more than makes up for that
Revenue of $64.29M (+83.9% Y/Y) beats by $2.17M.
No hint at restoring the common stock dividend on the Earnings call though.
New hotels have very good occupancy rates and most forward projections look very promising.
"RevPAR has more than doubled since December, portfolio-wide occupancy of 70% in May is strong, and I am particularly excited to see sequential RevPAR growth of 17% from April to May compared to 14% from March to April," highlighted Jeffrey H. Fisher, Chatham’s president and chief executive officer. "Leisure travel continues to lead the lodging recovery, and our northeastern leisure markets in New Hampshire and Maine are poised for strong summers after being shut down for half of the 2020 summer season. In Anaheim, Disney is opening the park to residents outside of California on June 15th and also is expected to increase capacity which bodes well for our Residence Inn in the market. Corporate demand is coming back in spurts in areas such as Silicon Valley, our largest market, as well as others like Washington, D.C and Bellevue, Wash. In Houston, health-care related business is returning to the Texas Medical Center, and we own four hotels in close proximity to it. For our portfolio, which appeals to a diverse set of customers, this portends well for continued, meaningful recovery in the summer and second half of the year."
If they have to cut the dividend stock will drop more. If the do cut they emphasize it is a temporary cut
This is a good entry point for anyone wanting to go Long.
Good Luck to all CLDT Investors.
Also their revpar really ticked up and they said summer weaker for them is weaker yet fall they said revenues should increase.
Barclays analyst Anthony Powell maintains Chatham Lodging (NYSE:CLDT) with a Equal-Weight and raises the price target from $15 to $16
Nice to see the target price being raised.
$10 down in price, but dividend has doubled almost? I reinvest but my question is this. Anyone know off the top of their head if there debt is fixed or variable for the most part and how higher rates will impact ffo?
Also anyone know why the drop?
Good Luck All