Chatham Lodging Trust (CLDT) Sets New 52-Week High at $23.31
Chatham Lodging Trust (REIT) (NYSE:CLDT) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $23.31 and last traded at $23.15, with a volume of 642000 shares. The stock had previously closed at $22.66.
Several brokerages recently issued reports on CLDT. BidaskClub raised Chatham Lodging Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Cantor Fitzgerald reissued a “hold” rating and issued a $20.00 price objective on shares of Chatham Lodging Trust in a research note on Thursday, September 21st. Janney Montgomery Scott began coverage on Chatham Lodging Trust in a research note on Friday, September 15th. They issued a “neutral” rating and a $21.00 price objective on the stock. Stifel Nicolaus reissued a “hold” rating and issued a $19.50 price objective on shares of Chatham Lodging Trust in a research note on Thursday, September 7th. Finally, Zacks Investment Research cut Chatham Lodging Trust from a “buy” rating to a “sell” rating in a research note on Tuesday, November 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $21.08.
The company has a debt-to-equity ratio of 0.86, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market cap of $930.17, a P/E ratio of 10.12 and a beta of 1.05.
Chatham Lodging Trust (NYSE:CLDT) last announced its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.01. The business had revenue of $81.40 million for the quarter, compared to analysts’ expectations of $80.12 million. Chatham Lodging Trust had a return on equity of 3.90% and a net margin of 9.03%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. research analysts expect that Chatham Lodging Trust will post 2.16 EPS for the current year.
The business also recently announced a monthly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, December 29th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.32 annualized dividend and a yield of 5.70%. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 197.01%.
A number of hedge funds and other institutional investors have recently made changes to their positions in CLDT. Dimensional Fund Advisors LP boosted its position in Chatham Lodging Trust by 15.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 541,197 shares of the real estate investment trust’s stock valued at $10,688,000 after acquiring an additional 73,619 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Chatham Lodging Trust by 5.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 161,344 shares of the real estate investment trust’s stock valued at $3,187,000 after acquiring an additional 8,520 shares in the last quarter. State Street Corp boosted its position in Chatham Lodging Trust by 14.0% during the 1st quarter. State Street Corp now owns 882,768 shares of the real estate investment trust’s stock valued at $17,438,000 after acquiring an additional 108,411 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Chatham Lodging Trust during the 2nd quarter valued at $313,000. Finally, Russell Investments Group Ltd. boosted its position in Chatham Lodging Trust by 11.9% during the 2nd quarter. Russell Investments Group Ltd. now owns 50,574 shares of the real estate investment trust’s stock valued at $1,016,000 after acquiring an additional 5,373 shares in the last quarter. 76.18% of the stock is currently owned by institutional investors and hedge funds.
Chatham Lodging Trust Company Profile
Chatham Lodging Trust is a real estate investment trust. The Company invests primarily in upscale extended-stay and premium-branded select-service hotels. All of the Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P. (the Operating Partnership). The Company owned 40 hotels with an aggregate of 5,939 rooms located in 16 states and the District of Columbia.
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