Chatham Lodging Trust (NYSE:CLDT) Reaches New 1-Year High – Should You Buy?

Chatham Lodging Trust (REIT) (NYSE:CLDT) shares hit a new 52-week high on Thursday . The company traded as high as $12.31 and last traded at $12.2520, with a volume of 722278 shares trading hands. The stock had previously closed at $11.97.

Analyst Upgrades and Downgrades

CLDT has been the topic of a number of recent analyst reports. Zacks Research downgraded shares of Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings raised shares of Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Alliance Global Partners reaffirmed a “buy” rating on shares of Chatham Lodging Trust in a research note on Friday, May 8th. Finally, Stifel Nicolaus set a $13.00 target price on shares of Chatham Lodging Trust in a research note on Friday, June 5th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.00.

Chatham Lodging Trust Price Performance

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.30. The business’s 50-day simple moving average is $9.58 and its 200 day simple moving average is $8.06. The firm has a market capitalization of $571.94 million, a P/E ratio of 612.60 and a beta of 1.12.

Chatham Lodging Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, June 30th. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 2,000.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CLDT. Tower Research Capital LLC TRC grew its holdings in shares of Chatham Lodging Trust by 195.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,836 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 3,858 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Chatham Lodging Trust by 1,071.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,652 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 6,084 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Chatham Lodging Trust in the third quarter worth approximately $52,000. Quarry LP grew its holdings in shares of Chatham Lodging Trust by 61.9% in the third quarter. Quarry LP now owns 8,629 shares of the real estate investment trust’s stock worth $58,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of Chatham Lodging Trust in the first quarter worth approximately $61,000. 88.37% of the stock is currently owned by institutional investors.

About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,915 rooms/suites in 16 states and the District of Columbia.