Chatham Lodging Trust (NYSE:CLDT) Sets New 52-Week High – Here’s What Happened

Chatham Lodging Trust (REIT) (NYSE:CLDT)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $11.04 and last traded at $10.9560, with a volume of 12040 shares trading hands. The stock had previously closed at $10.90.

Analysts Set New Price Targets

CLDT has been the subject of several recent research reports. Zacks Research lowered Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Weiss Ratings downgraded Chatham Lodging Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. Finally, Stifel Nicolaus raised their price target on Chatham Lodging Trust from $10.00 to $11.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Chatham Lodging Trust currently has an average rating of “Hold” and a consensus target price of $11.00.

Chatham Lodging Trust Trading Down 0.1%

The stock has a 50 day moving average of $8.95 and a 200-day moving average of $7.76. The company has a market capitalization of $515.58 million, a P/E ratio of 552.25 and a beta of 1.05. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.30.

Chatham Lodging Trust (NYSE:CLDT) last announced its quarterly earnings data on Wednesday, February 25th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.11). Chatham Lodging Trust had a net margin of 3.14% and a return on equity of 1.18%. The company had revenue of $67.74 million for the quarter, compared to the consensus estimate of $67.22 million. On average, research analysts predict that Chatham Lodging Trust will post 1.27 EPS for the current year.

Chatham Lodging Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, March 31st. This is a positive change from Chatham Lodging Trust’s previous quarterly dividend of $0.09. Chatham Lodging Trust’s dividend payout ratio is currently 2,000.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CLDT. Tower Research Capital LLC TRC boosted its position in shares of Chatham Lodging Trust by 195.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,836 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 3,858 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings 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 valued at $52,000 after buying an additional 6,084 shares during the period. Advisory Services Network LLC bought a new stake in Chatham Lodging Trust in the third quarter worth $52,000. Quarry LP lifted its position in Chatham Lodging Trust by 61.9% in the third quarter. Quarry LP now owns 8,629 shares of the real estate investment trust’s stock worth $58,000 after buying an additional 3,300 shares during the last quarter. Finally, Strs Ohio bought a new stake in Chatham Lodging Trust in the first quarter worth $61,000. 88.37% of the stock is currently owned by institutional investors.

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.