Chatham Lodging Trust (NYSE:CLDT) Sets New 12-Month High After Dividend Announcement

Shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) hit a new 52-week high on Friday following a dividend announcement from the company. The company traded as high as $11.60 and last traded at $11.5340, with a volume of 98233 shares trading hands. The stock had previously closed at $11.30.

The newly announced dividend which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, June 30th. Chatham Lodging Trust’s dividend payout ratio (DPR) is 2,000.00%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CLDT shares. Zacks Research cut shares of Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. 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. Stifel Nicolaus set a $13.00 target price on shares of Chatham Lodging Trust in a report on Friday. Finally, Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Chatham Lodging Trust Trading Up 1.0%

The business’s fifty day moving average is $9.34 and its 200-day moving average is $7.94. The stock has a market capitalization of $532.67 million, a PE ratio of 570.55 and a beta of 1.12. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.30.

Institutional Inflows and Outflows

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

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.