Chatham Lodging Trust (NYSE:CLDT) Reaches New 1-Year High – Time to Buy?

Chatham Lodging Trust (REIT) (NYSE:CLDT) hit 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 trading hands. The stock had previously closed at $15.88.

Analyst Ratings Changes

Several analysts have commented on CLDT shares. Wall Street Zen upgraded shares of Chatham Lodging Trust from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Morgan Stanley lowered Chatham Lodging Trust to an “outperform” rating in a research report on Friday, October 16th. Weiss Ratings raised Chatham Lodging Trust from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Zacks Research raised Chatham Lodging Trust from a “hold” rating to a “strong-buy” rating in a report on Monday, October 26th. Finally, Stifel Nicolaus set a $16.50 target price on Chatham Lodging Trust in a research report on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Chatham Lodging Trust presently has an average rating of “Buy” and an average price target of $14.25.

Chatham Lodging Trust Price Performance

The company has a market capitalization of $754.11 million, a PE ratio of 12.15 and a beta of 1.11. The firm’s 50 day simple moving average is $13.96 and its 200 day simple moving average is $11.28. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.27.

Chatham Lodging Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Wednesday, December 30th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, December 30th. This represents a $0.40 dividend on an annualized basis and a yield of 2.5%. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 250.00%.

Institutional Trading of Chatham Lodging Trust

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Chatham Lodging Trust in the second quarter worth about $118,707,000. Donald Smith & CO. Inc. purchased a new stake in shares of Chatham Lodging Trust in the 2nd quarter worth approximately $52,587,000. Bank of America Corp DE purchased a new stake in shares of Chatham Lodging Trust in the 2nd quarter worth approximately $4,978,000. Hsbc Holdings PLC bought a new position in shares of Chatham Lodging Trust during the second quarter valued at approximately $4,537,000. Finally, Bank of New York Mellon Corp bought a new position in shares of Chatham Lodging Trust during the second quarter valued at approximately $2,953,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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.