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

Chatham Lodging Trust (REIT) (NYSE:CLDT)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $14.34 and last traded at $13.39, with a volume of 1802 shares changing hands. The stock had previously closed at $13.45.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CLDT shares. Zacks Research raised Chatham Lodging Trust from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Weiss Ratings raised Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Alliance Global Partners reissued a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. BMO Capital Markets restated a “market perform” rating and issued a $12.00 price target on shares of Chatham Lodging Trust in a research note on Friday, June 12th. Finally, Stifel Nicolaus upped their price objective on Chatham Lodging Trust from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Chatham Lodging Trust Price Performance

The stock has a market cap of $625.51 million, a price-to-earnings ratio of 668.30 and a beta of 1.08. The company’s 50 day moving average is $12.14 and its 200 day moving average is $9.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.73 and a quick ratio of 0.73.

Chatham Lodging Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.40 dividend on an annualized basis and a yield of 3.0%. Chatham Lodging Trust’s dividend payout ratio (DPR) is 2,000.00%.

Institutional Investors Weigh In On Chatham Lodging Trust

Several institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of Chatham Lodging Trust by 26.7% in the 1st quarter. Royal Bank of Canada now owns 193,422 shares of the real estate investment trust’s stock worth $1,379,000 after acquiring an additional 40,746 shares during the period. AQR Capital Management LLC raised its holdings in Chatham Lodging Trust by 35.8% during the first quarter. AQR Capital Management LLC now owns 98,409 shares of the real estate investment trust’s stock worth $702,000 after purchasing an additional 25,926 shares during the last quarter. Jane Street Group LLC raised its holdings in Chatham Lodging Trust by 6.6% during the first quarter. Jane Street Group LLC now owns 289,534 shares of the real estate investment trust’s stock worth $2,064,000 after purchasing an additional 18,030 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Chatham Lodging Trust during the first quarter worth $62,000. Finally, Strs Ohio purchased a new stake in Chatham Lodging Trust during the first quarter worth $61,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Chatham Lodging Trust Company Profile

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.