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 $13.18 and last traded at $13.1040, with a volume of 13901 shares traded. The stock had previously closed at $13.04.

Wall Street Analysts Forecast Growth

CLDT has been the subject of a number of research analyst reports. Zacks Research lowered 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 Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. BMO Capital Markets restated a “market perform” rating and issued a $12.00 price target on shares of Chatham Lodging Trust in a report on Friday. Stifel Nicolaus set a $13.00 price objective on Chatham Lodging Trust in a research report on Friday, June 5th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Chatham Lodging Trust presently has a consensus rating of “Hold” and an average target price of $12.50.

Chatham Lodging Trust Stock Up 0.2%

The firm has a fifty day moving average of $9.98 and a 200-day moving average of $8.23. 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 firm has a market cap of $609.89 million, a P/E ratio of 655.00 and a beta of 1.11.

Chatham Lodging Trust Announces Dividend

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

Hedge Funds Weigh In On Chatham Lodging Trust

A number of institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its stake in 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 valued at $41,000 after acquiring an additional 3,858 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Chatham Lodging Trust by 1,071.1% during the 1st 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 stake in shares of Chatham Lodging Trust in the 3rd quarter valued at about $52,000. Quarry LP raised its holdings in shares of Chatham Lodging Trust by 61.9% in the 3rd quarter. Quarry LP now owns 8,629 shares of the real estate investment trust’s stock valued at $58,000 after purchasing an additional 3,300 shares during the period. Finally, Strs Ohio acquired a new stake in Chatham Lodging Trust in the 1st quarter valued at about $61,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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.