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

Chatham Lodging Trust (REIT) (NYSE:CLDT) reached a new 52-week high during trading on Wednesday . The stock traded as high as $14.34 and last traded at $13.39, with a volume of 1802 shares traded. The stock had previously closed at $13.45.

Wall Street Analysts Forecast Growth

CLDT has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Stifel Nicolaus lifted their price target on shares of Chatham Lodging Trust from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. BMO Capital Markets reissued a “market perform” rating and set a $12.00 price objective on shares of Chatham Lodging Trust in a report on Friday, June 12th. Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a research report on Friday, May 8th. Finally, Zacks Research upgraded shares of Chatham Lodging Trust from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Chatham Lodging Trust Stock Performance

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 cap of $618.66 million, a P/E ratio of 662.65 and a beta of 1.08. The business’s 50-day moving average price is $12.28 and its 200-day moving average price is $9.43.

Chatham Lodging Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Chatham Lodging Trust’s payout ratio is currently 2,000.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased 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 worth $41,000 after acquiring an additional 3,858 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in 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 acquiring an additional 6,084 shares during the period. Advisory Services Network LLC purchased a new position in Chatham Lodging Trust during the third quarter valued at approximately $52,000. Quarry LP lifted 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 valued at $58,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Strs Ohio bought a new position in shares of Chatham Lodging Trust in the first quarter worth approximately $61,000. 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.