Chatham Lodging Trust (NYSE:CLDT) Stock Passes Above Fifty Day Moving Average – Here’s Why

Chatham Lodging Trust (REIT) (NYSE:CLDT) shares crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $12.14 and traded as high as $13.50. Chatham Lodging Trust shares last traded at $13.44, with a volume of 444,537 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CLDT. Stifel Nicolaus boosted their target price on Chatham Lodging Trust from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Zacks Research upgraded Chatham Lodging Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Alliance Global Partners reissued a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. BMO Capital Markets restated a “market perform” rating and set a $12.00 price objective on shares of Chatham Lodging Trust in a report on Friday, June 12th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $13.00.

Chatham Lodging Trust Trading Up 0.4%

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.30. The stock has a 50-day simple moving average of $12.14 and a 200 day simple moving average of $9.34. The company has a market cap of $627.38 million, a price-to-earnings ratio of 672.00 and a beta of 1.08.

Chatham Lodging Trust Announces Dividend

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

Hedge Funds Weigh In On Chatham Lodging Trust

A number of institutional investors have recently bought and sold shares of CLDT. Royal Bank of Canada boosted its holdings in shares of Chatham Lodging Trust by 26.7% in the 1st quarter. Royal Bank of Canada now owns 193,422 shares of the real estate investment trust’s stock valued at $1,379,000 after acquiring an additional 40,746 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Chatham Lodging Trust by 35.8% in the first quarter. AQR Capital Management LLC now owns 98,409 shares of the real estate investment trust’s stock worth $702,000 after acquiring an additional 25,926 shares during the period. Jane Street Group LLC raised its holdings in shares of Chatham Lodging Trust by 6.6% during the first quarter. Jane Street Group LLC now owns 289,534 shares of the real estate investment trust’s stock worth $2,064,000 after purchasing an additional 18,030 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Chatham Lodging Trust during the first quarter worth $62,000. Finally, Strs Ohio purchased a new position in shares of Chatham Lodging Trust during the first quarter worth $61,000. 88.37% of the stock is owned by hedge funds and other 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.