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

Chatham Lodging Trust (REIT) (NYSE:CLDT)’s share price reached a new 52-week high on Friday . The stock traded as high as $11.60 and last traded at $11.5340, with a volume of 98233 shares traded. The stock had previously closed at $11.30.

Analyst Ratings Changes

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

Chatham Lodging Trust Stock Up 2.5%

The company has a market capitalization of $540.80 million, a P/E ratio of 579.75 and a beta of 1.12. 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 stock has a 50 day moving average price of $9.27 and a 200 day moving average price of $7.91.

Institutional Investors Weigh In On Chatham Lodging Trust

Several large investors have recently added to or reduced their stakes in CLDT. Royal Bank of Canada increased its holdings in 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 last quarter. AQR Capital Management LLC increased its holdings in Chatham Lodging Trust by 35.8% in the 1st quarter. AQR Capital Management LLC now owns 98,409 shares of the real estate investment trust’s stock worth $702,000 after acquiring an additional 25,926 shares during the last quarter. Jane Street Group LLC grew its holdings in Chatham Lodging Trust by 6.6% during the 1st quarter. Jane Street Group LLC now owns 289,534 shares of the real estate investment trust’s stock valued at $2,064,000 after buying an additional 18,030 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Chatham Lodging Trust during the 1st quarter valued at about $62,000. Finally, Strs Ohio purchased a new position in Chatham Lodging Trust during the 1st quarter valued at about $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.