Condor Hospitality Trust (CDOR) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Condor Hospitality Trust (NYSEAMERICAN:CDOR) from a hold rating to a buy rating in a research note released on Monday, Zacks.com reports. The brokerage currently has $11.00 target price on the financial services provider’s stock.

According to Zacks, “Condor Hospitality Trust, Inc. is a self-administered real estate investment trust. The Company specializes in the investment and ownership of upper midscale and upscale, premium-branded select-service, extended stay and limited service hotels. Condor Hospitality Trust, Inc., formerly known as Supertel Hospitality, Inc., is based in Norfolk, United States. “

A number of other equities analysts have also commented on the stock. B. Riley set a $11.00 price objective on shares of Condor Hospitality Trust and gave the stock a buy rating in a report on Tuesday, March 26th. DA Davidson reiterated a buy rating on shares of Condor Hospitality Trust in a report on Tuesday, March 12th. Finally, Robert W. Baird set a $10.00 price objective on shares of Condor Hospitality Trust and gave the stock a hold rating in a report on Monday, December 17th.

Shares of CDOR stock opened at $9.69 on Monday. Condor Hospitality Trust has a 12 month low of $6.10 and a 12 month high of $11.32.

Condor Hospitality Trust (NYSEAMERICAN:CDOR) last issued its quarterly earnings data on Monday, March 11th. The financial services provider reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.01). The business had revenue of $15.08 million for the quarter, compared to analysts’ expectations of $16.38 million.

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 2nd. Stockholders of record on Friday, March 15th were paid a $0.195 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 8.05%.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Condor Hospitality Trust by 7.7% in the 3rd quarter. Vanguard Group Inc. now owns 176,839 shares of the financial services provider’s stock valued at $1,891,000 after purchasing an additional 12,675 shares in the last quarter. Vanguard Group Inc raised its stake in shares of Condor Hospitality Trust by 7.7% in the 3rd quarter. Vanguard Group Inc now owns 176,839 shares of the financial services provider’s stock valued at $1,891,000 after purchasing an additional 12,675 shares in the last quarter. Dubuque Bank & Trust Co. raised its stake in shares of Condor Hospitality Trust by 3.1% in the 1st quarter. Dubuque Bank & Trust Co. now owns 113,702 shares of the financial services provider’s stock valued at $1,023,000 after purchasing an additional 3,375 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Condor Hospitality Trust by 8.9% in the 3rd quarter. Renaissance Technologies LLC now owns 106,055 shares of the financial services provider’s stock valued at $1,134,000 after purchasing an additional 8,705 shares in the last quarter. Finally, D.A. Davidson & CO. acquired a new stake in shares of Condor Hospitality Trust in the 4th quarter valued at about $141,000. Institutional investors and hedge funds own 21.20% of the company’s stock.

About Condor Hospitality Trust

Condor Hospitality Trust, Inc (NYSE American: CDOR) is a self-administered real estate investment trust that specializes in the investment and ownership of upper midscale and upscale, premium-branded, select-service, extended-stay, and limited-service hotels in the top 100 Metropolitan Statistical Areas (“MSAs”) with a particular focus on the top 20 to 60 MSAs.

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