Chatham Lodging Trust (NYSE:CLDT) Sets New 52-Week High - Still a Buy?

Key Points

• Chatham Lodging Trust shares reached a new 52-week high, trading as high as $13.84 and most recently at $13.75, up from a $13.50 prior close.
• Analyst sentiment is generally positive: the stock has a “Moderate Buy” consensus rating and a $13.00 average price target, although ratings range from Strong Buy to Hold.
• The REIT pays a quarterly dividend of $0.10, or $0.40 annualized, for a 2.9% yield. Institutional investors own 88.37% of the outstanding shares.

Chatham Lodging Trust (REIT) (NYSE:CLDT - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $13.84 and last traded at $13.75, with a volume of 415040 shares traded. The stock had previously closed at $13.50.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Alliance Global Partners reaffirmed a "buy" rating on shares of Chatham Lodging Trust in a research report on Friday, May 8th. Weiss Ratings raised shares of Chatham Lodging Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 1st. Stifel Nicolaus boosted their price objective on shares of Chatham Lodging Trust from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Zacks Research raised shares of Chatham Lodging Trust from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 9th. Finally, BMO Capital Markets reaffirmed a "market perform" rating and set a $12.00 price objective on shares of Chatham Lodging Trust in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $13.00.

Chatham Lodging Trust Stock Up 1.9%

The company has a debt-to-equity ratio of 0.30, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market capitalization of $641.85 million, a P/E ratio of 687.50 and a beta of 1.08. The business has a 50 day moving average price of $12.43 and a 200 day moving average price of $9.53.

Chatham Lodging Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Chatham Lodging Trust's payout ratio is currently 2,000.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CLDT. Intech Investment Management LLC grew its stake in shares of Chatham Lodging Trust by 9.1% in the third quarter. Intech Investment Management LLC now owns 24,296 shares of the real estate investment trust's stock worth $163,000 after acquiring an additional 2,017 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Chatham Lodging Trust by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 615,322 shares of the real estate investment trust's stock worth $4,190,000 after acquiring an additional 2,496 shares during the period. Franklin Resources Inc. raised its stake in Chatham Lodging Trust by 8.4% during the 2nd quarter. Franklin Resources Inc. now owns 34,078 shares of the real estate investment trust's stock valued at $238,000 after purchasing an additional 2,642 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in Chatham Lodging Trust by 0.4% in the 4th quarter. Kennedy Capital Management LLC now owns 804,513 shares of the real estate investment trust's stock valued at $5,479,000 after purchasing an additional 2,894 shares during the period. Finally, Diversified Trust Co. boosted its holdings in Chatham Lodging Trust by 18.6% in the 4th quarter. Diversified Trust Co. now owns 18,861 shares of the real estate investment trust's stock valued at $128,000 after purchasing an additional 2,952 shares during the period. 88.37% of the stock is currently 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.

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