Chatham Lodging Trust (NYSE:CLDT) Hits New 12-Month High – Here’s Why

Chatham Lodging Trust (REIT) (NYSE:CLDT)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.84 and last traded at $13.75, with a volume of 415040 shares traded. The stock had previously closed at $13.50.

Wall Street Analyst Weigh In

A number of research firms have commented on CLDT. Stifel Nicolaus boosted their price target on shares of Chatham Lodging Trust from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. Alliance Global Partners reaffirmed a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. Zacks Research raised Chatham Lodging Trust from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. BMO Capital Markets restated a “market perform” rating and set a $12.00 price target on shares of Chatham Lodging Trust in a research report on Friday, June 12th. Finally, Weiss Ratings raised Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Chatham Lodging Trust has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Chatham Lodging Trust Stock Performance

The stock’s 50 day simple moving average is $12.56 and its two-hundred day simple moving average is $9.62. The company has a market capitalization of $632.39 million, a P/E ratio of 677.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.73 and a quick ratio of 0.73.

Chatham Lodging Trust Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC increased its stake in shares of Chatham Lodging Trust by 9.1% in the 3rd quarter. Intech Investment Management LLC now owns 24,296 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 2,017 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Chatham Lodging Trust by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 615,322 shares of the real estate investment trust’s stock valued at $4,190,000 after acquiring an additional 2,496 shares during the period. Franklin Resources Inc. lifted its stake in shares of Chatham Lodging Trust by 8.4% during the second quarter. Franklin Resources Inc. now owns 34,078 shares of the real estate investment trust’s stock valued at $238,000 after acquiring an additional 2,642 shares during the period. Kennedy Capital Management LLC boosted its holdings in Chatham Lodging Trust by 0.4% in the fourth quarter. Kennedy Capital Management LLC now owns 804,513 shares of the real estate investment trust’s stock valued at $5,479,000 after acquiring an additional 2,894 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Chatham Lodging Trust by 5.3% in the fourth quarter. Russell Investments Group Ltd. now owns 63,786 shares of the real estate investment trust’s stock valued at $434,000 after acquiring an additional 3,186 shares during the last quarter. 88.37% of the stock is currently owned by institutional investors.

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.