Chatham Lodging Trust (NYSE:CLDT) Sets New 1-Year High – Here’s Why

Chatham Lodging Trust (REIT) (NYSE:CLDT) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $13.62 and last traded at $13.3580, with a volume of 447675 shares. The stock had previously closed at $13.36.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CLDT. Stifel Nicolaus set a $13.00 price target on Chatham Lodging Trust in a research report on Friday, June 5th. Weiss Ratings upgraded shares of Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, June 1st. Zacks Research cut shares of Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. Finally, BMO Capital Markets restated a “market perform” rating and set a $12.00 target price on shares of Chatham Lodging Trust in a report on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $12.50.

Chatham Lodging Trust Trading Down 2.9%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.73 and a current ratio of 0.73. The business has a fifty day simple moving average of $10.57 and a 200 day simple moving average of $8.51. The stock has a market cap of $612.16 million, a price-to-earnings ratio of 655.70 and a beta of 1.12.

Chatham Lodging Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.1%. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 2,000.00%.

Institutional Trading of Chatham Lodging Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CLDT. NewEdge Advisors LLC purchased a new position in Chatham Lodging Trust in the 1st quarter valued at about $162,000. Bank of America Corp DE boosted its stake in shares of Chatham Lodging Trust by 3.3% during the 1st quarter. Bank of America Corp DE now owns 393,197 shares of the real estate investment trust’s stock worth $3,094,000 after purchasing an additional 12,539 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Chatham Lodging Trust by 62.8% during the first quarter. Quantinno Capital Management LP now owns 140,257 shares of the real estate investment trust’s stock worth $1,104,000 after buying an additional 54,096 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Chatham Lodging Trust during the first quarter worth about $990,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Chatham Lodging Trust by 98.5% in the first quarter. Public Employees Retirement System of Ohio now owns 74,454 shares of the real estate investment trust’s stock valued at $586,000 after buying an additional 36,954 shares during the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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.