Chatham Lodging Trust logo CLDT - Chatham Lodging Trust

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 8
HOLD 5
SELL 0
STRONG
SELL
0
| PRICE TARGET: $13.67 DETAILS
HIGH: $15.00
LOW: $12.00
MEDIAN: $14.00
CONSENSUS: $13.67
UPSIDE: 4.83%
AlphaVal

AlphaVal

Deterministic, archetype-aware fair value

Real Estate Investment Trust 85% confidence

Primary model: P/FFO × Default REIT Multiple

Valuation Signal Undervalued Strong
Trading 51.5% below fair value
Current Price $13.04
Bear Case $22.22 70.4% upside ($22.22 - $13.04) / $13.04 = 70.4% $1.60 FFO × 18x
Fair Value $26.91 106.4% upside ($26.91 - $13.04) / $13.04 = 106.4% $1.60 FFO × 22x
Bull Case $31.61 142.4% upside ($31.61 - $13.04) / $13.04 = 142.4% $1.60 FFO × 26x

Adjust Assumptions

22.1x
1.6$

Key Value Driver

FFO/share ($1.60) × default P/FFO multiple

Implied Market Multiple 8.1x

Plain-Language Summary

At $1.60 FFO/share with a 22x default REIT multiple, the base-case value is $26.91 per share. Dividend yield: 2.9%. DDM cross-check: $7.08.

Analyst Consensus (External Reference)

Never blended into the bear/base/bull estimates above -- shown only as an outside comparison.

Average Target (13 analysts) $13.67
Analyst Range $12.00 – $15.00
Divergence from AlphaVal 97%

Warnings

Standard profit figures are misleading for real estate companies — large non-cash accounting charges make profits look artificially low. Dividend yield and funds from operations are better measures.
Dividend-based valuation: $7.08 (74% below our primary estimate). Large gaps suggest the dividend may not fully reflect the company's value.
Wall Street's average price target is $13.67 (from 13 analysts). Our estimate is 97% above the consensus -- consider that gap carefully.

Key Risks

  • P/E and EV/EBITDA are structurally wrong for REITs — use P/FFO and NAV
  • Interest rate sensitivity: REIT multiples compress when rates rise
  • FFO approximation (NI + D&A) may include gains on property sales — verify