Chatham Lodging Trust (NYSE:CLDT) Hits New 12-Month High – Still a Buy?

Chatham Lodging Trust (REIT) (NYSE:CLDT) shares reached a new 52-week high during trading on Wednesday . The stock 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.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CLDT. Zacks Research downgraded Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Weiss Ratings raised shares of Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Stifel Nicolaus set a $13.00 price target on shares of Chatham Lodging Trust in a research report on Friday, June 5th. Alliance Global Partners reissued a “buy” rating on shares of Chatham Lodging Trust in a research report on Friday, May 8th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $12.00 price objective on shares of Chatham Lodging Trust in a research note on Friday, June 12th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.50.

Chatham Lodging Trust Trading Up 4.6%

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 market capitalization of $625.23 million, a PE ratio of 669.70 and a beta of 1.12. The business’s 50-day moving average is $10.18 and its two-hundred day moving average is $8.32.

Chatham Lodging Trust Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.0%. Chatham Lodging Trust’s payout ratio is presently 2,000.00%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CLDT. Tower Research Capital LLC TRC boosted its holdings in Chatham Lodging Trust by 195.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,836 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 3,858 shares in the last quarter. PNC Financial Services Group Inc. raised 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 buying an additional 6,084 shares in the last quarter. Advisory Services Network LLC acquired a new stake in shares of Chatham Lodging Trust in the 3rd quarter valued at approximately $52,000. Strs Ohio purchased a new stake in shares of Chatham Lodging Trust in the first quarter valued at approximately $61,000. Finally, Quarry LP grew its holdings in Chatham Lodging Trust by 61.9% during the third quarter. Quarry LP now owns 8,629 shares of the real estate investment trust’s stock worth $58,000 after acquiring an additional 3,300 shares during the period. 88.37% of the stock is owned by hedge funds and other institutional investors.

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.