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

Chatham Lodging Trust (REIT) (NYSE:CLDT) reached a new 52-week high during mid-day trading on Wednesday. The company traded as high as $16.49 and last traded at $16.2820, with a volume of 17,268 shares. The stock had previously closed at $15.88.

Analysts Set New Price Targets

A number of research analysts recently commented on CLDT shares. Weiss Ratings upgraded shares of Chatham Lodging Trust from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday. Zacks Research upgraded shares of Chatham Lodging Trust from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 26th. Stifel Nicolaus set a $16.50 price objective on Chatham Lodging Trust in a report on Thursday, November 5th. Morgan Stanley downgraded Chatham Lodging Trust to an “outperform” rating in a research report on Friday, October 16th. Finally, Alliance Global Partners reiterated a “buy” rating on shares of Chatham Lodging Trust in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $14.25.

Chatham Lodging Trust Trading Up 0.2%

The firm has a market capitalization of $760.50 million, a P/E ratio of 102.10 and a beta of 1.11. The business’s 50-day moving average is $13.83 and its 200 day moving average is $11.19. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.87 and a quick ratio of 0.87.

Chatham Lodging Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Wednesday, December 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, December 30th. This represents a $0.40 annualized dividend and a dividend yield of 2.4%. Chatham Lodging Trust’s dividend payout ratio (DPR) is currently 250.00%.

Institutional Investors Weigh In On Chatham Lodging Trust

Several institutional investors have recently made changes to their positions in CLDT. BlackRock Inc. acquired a new position in Chatham Lodging Trust in the 2nd quarter valued at $118,707,000. Donald Smith & CO. Inc. acquired a new stake in shares of Chatham Lodging Trust during the 2nd quarter worth $52,587,000. Bank of America Corp DE acquired a new stake in shares of Chatham Lodging Trust during the 2nd quarter worth $4,978,000. Hsbc Holdings PLC bought a new position in shares of Chatham Lodging Trust in the second quarter worth $4,537,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Chatham Lodging Trust in the second quarter worth $2,953,000. 88.37% of the stock is currently owned by institutional investors.

About Chatham Lodging Trust

Chatham Lodging Trust (NYSE: CLDT) is a real estate investment trust focused on owning upscale extended-stay hotels and premium-branded select-service hotels. Its properties are affiliated with established hotel brands and serve business and leisure travelers. The trust’s portfolio is concentrated in major U.S. markets, including coastal locations and other areas with strong lodging demand. Its extended-stay properties cater to guests seeking accommodations for longer visits, while its select-service hotels offer lodging and core guest services.