Chatham Lodging Trust (NYSE:CLDT) Sets New 12-Month High – Here’s What Happened

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on CLDT. Zacks Research cut shares of Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Stifel Nicolaus lifted their price objective on Chatham Lodging Trust from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Wednesday, April 15th. Weiss Ratings downgraded Chatham Lodging Trust from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Chatham Lodging Trust in a research report on Friday, May 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

Chatham Lodging Trust Stock Performance

The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.30. The stock has a market cap of $513.34 million, a P/E ratio of 549.25 and a beta of 1.05. The firm’s 50-day moving average is $8.82 and its two-hundred day moving average is $7.70.

Chatham Lodging Trust (NYSE:CLDT) last posted its earnings results on Wednesday, February 25th. The real estate investment trust reported $0.05 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.11). The business had revenue of $67.74 million during the quarter, compared to the consensus estimate of $67.22 million. Chatham Lodging Trust had a return on equity of 1.18% and a net margin of 3.14%. As a group, research analysts expect that Chatham Lodging Trust will post 1.27 EPS for the current year.

Chatham Lodging Trust Increases Dividend

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

Hedge Funds Weigh In On Chatham Lodging Trust

A number of institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in shares of Chatham Lodging Trust by 195.0% in the second 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 period. PNC Financial Services Group Inc. grew its position in Chatham Lodging Trust by 1,071.1% during the first quarter. PNC Financial Services Group Inc. now owns 6,652 shares of the real estate investment trust’s stock worth $52,000 after buying an additional 6,084 shares in the last quarter. Advisory Services Network LLC bought a new position in Chatham Lodging Trust during the third quarter valued at about $52,000. Strs Ohio bought a new position in Chatham Lodging Trust during the first quarter valued at about $61,000. Finally, Quarry LP raised its holdings in Chatham Lodging Trust by 61.9% in the 3rd quarter. Quarry LP now owns 8,629 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 3,300 shares in the last quarter. 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.