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

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Weiss Ratings raised Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Zacks Research lowered Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Alliance Global Partners reissued a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. Finally, Stifel Nicolaus set a $13.00 price objective on Chatham Lodging Trust in a report on Friday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.00.

Chatham Lodging Trust Stock Up 2.5%

The stock has a 50-day moving average of $9.27 and a two-hundred day moving average of $7.91. The company has a market cap 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.

Institutional Trading of Chatham Lodging Trust

Hedge funds have recently bought and sold shares of the company. AlphaQuest LLC lifted its position in Chatham Lodging Trust by 1,617.3% in the 3rd quarter. AlphaQuest LLC now owns 84,576 shares of the real estate investment trust’s stock worth $568,000 after buying an additional 79,651 shares during the last quarter. Sequoia Financial Advisors LLC bought a new stake in Chatham Lodging Trust in the 1st quarter worth approximately $118,000. Sculptor Capital LP lifted its position in Chatham Lodging Trust by 10.6% in the 4th quarter. Sculptor Capital LP now owns 2,365,395 shares of the real estate investment trust’s stock worth $16,108,000 after buying an additional 227,500 shares during the last quarter. Aegis Financial Corp bought a new stake in Chatham Lodging Trust in the 4th quarter worth approximately $4,621,000. Finally, Copeland Capital Management LLC bought a new stake in Chatham Lodging Trust in the fourth quarter valued at approximately $70,000. 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.