Chatham Lodging Trust (NYSE:CLDT) Hits New 1-Year High on Earnings Beat

Shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The company traded as high as $15.76 and last traded at $15.11, with a volume of 30,631 shares trading hands. The stock had previously closed at $14.98.

The real estate investment trust reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.41. The firm had revenue of $90.92 million for the quarter, compared to analysts’ expectations of $88.07 million. Chatham Lodging Trust had a return on equity of 1.56% and a net margin of 4.00%.

Chatham Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.10 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.7%. Chatham Lodging Trust’s payout ratio is currently 500.00%.

Wall Street Analyst Weigh In

CLDT has been the topic of a number of research reports. Alliance Global Partners reiterated a “buy” rating on shares of Chatham Lodging Trust in a report on Tuesday, August 4th. Weiss Ratings raised Chatham Lodging Trust from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Zacks Research upgraded shares of Chatham Lodging Trust from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 26th. Morgan Stanley cut shares of Chatham Lodging Trust to an “outperform” rating in a report on Friday, October 16th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $15.50 price objective (up from $15.00) on shares of Chatham Lodging Trust in a research note on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.75.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC grew its position in shares of Chatham Lodging Trust by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 69,042 shares of the real estate investment trust’s stock valued at $936,000 after purchasing an additional 2,735 shares during the period. State of Wyoming grew its holdings in Chatham Lodging Trust by 7.7% in the 3rd quarter. State of Wyoming now owns 33,539 shares of the real estate investment trust’s stock valued at $449,000 after buying an additional 2,402 shares during the period. Sterling Capital Management LLC grew its holdings in Chatham Lodging Trust by 1,261.8% in the 3rd quarter. Sterling Capital Management LLC now owns 12,406 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 11,495 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Chatham Lodging Trust by 5.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 24,023 shares of the real estate investment trust’s stock valued at $320,000 after acquiring an additional 1,269 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Chatham Lodging Trust by 146.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,335 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 1,389 shares during the period. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Chatham Lodging Trust Price Performance

The company’s 50-day moving average is $13.64 and its 200-day moving average is $11.02. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $701.76 million, a price-to-earnings ratio of 186.71 and a beta of 1.11.

About Chatham Lodging Trust

Chatham Lodging Trust was a real estate investment trust that owned and operated upscale hotels and premium-branded select-service hotels in the United States. Its portfolio included properties affiliated with nationally recognized hotel brands, serving business and leisure travelers in urban, suburban and resort-oriented markets.

The company’s lodging portfolio included full-service and select-service hotels operating under brands such as Hilton, Marriott and Hyatt. Chatham focused on acquiring, owning and enhancing hotel properties, while working with third-party management companies to oversee day-to-day operations.

Founded in 2009 and based in New York, Chatham Lodging Trust became a publicly traded company on the New York Stock Exchange in 2010.