Chatham Lodging Trust (NYSE:CLDT) Hits New 52-Week High – Still a Buy?

Chatham Lodging Trust (REIT) (NYSE:CLDT)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $12.31 and last traded at $12.2520, with a volume of 722278 shares. The stock had previously closed at $11.97.

Analysts Set New Price Targets

CLDT has been the topic of several recent analyst reports. Weiss Ratings upgraded shares of Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. Zacks Research cut shares of Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Stifel Nicolaus set a $13.00 target price on shares of Chatham Lodging Trust in a report on Friday, June 5th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $13.00.

Chatham Lodging Trust Price Performance

The business has a 50 day moving average of $9.58 and a 200 day moving average of $8.06. The company has a market cap of $571.94 million, a PE ratio of 612.60 and a beta of 1.12. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.40 dividend on an annualized basis and a yield of 3.3%. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 2,000.00%.

Institutional Trading of Chatham Lodging Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intech Investment Management LLC lifted its stake in Chatham Lodging Trust by 9.1% in the third quarter. Intech Investment Management LLC now owns 24,296 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 2,017 shares during the period. Dimensional Fund Advisors LP lifted its stake in Chatham Lodging Trust by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 615,322 shares of the real estate investment trust’s stock worth $4,190,000 after acquiring an additional 2,496 shares during the period. Franklin Resources Inc. lifted its stake in Chatham Lodging Trust by 8.4% in the second quarter. Franklin Resources Inc. now owns 34,078 shares of the real estate investment trust’s stock worth $238,000 after acquiring an additional 2,642 shares during the period. Kennedy Capital Management LLC lifted its position in Chatham Lodging Trust by 0.4% during 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 buying an additional 2,894 shares during the period. Finally, Diversified Trust Co. lifted its position in Chatham Lodging Trust by 18.6% during the fourth quarter. Diversified Trust Co. now owns 18,861 shares of the real estate investment trust’s stock valued at $128,000 after buying an additional 2,952 shares during the period. Hedge funds and other 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.