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

Key Points

• Chatham Lodging Trust hit a new 52-week high, reaching as much as $14.34 before easing slightly in Wednesday trading.
• Analysts have recently turned more positive on the stock, with Stifel raising its target to $14 and Zacks upgrading CLDT to strong-buy; the overall consensus is now a Moderate Buy.
• The REIT paid a quarterly dividend of $0.10 per share, equal to a 3.0% annualized yield, while institutional investors continue to hold a large majority of the stock.

Shares of Chatham Lodging Trust (REIT) (NYSE:CLDT - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $14.34 and last traded at $13.39, with a volume of 1802 shares trading hands. The stock had previously closed at $13.45.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CLDT shares. Stifel Nicolaus lifted their target price on shares of Chatham Lodging Trust from $13.00 to $14.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Zacks Research upgraded shares of Chatham Lodging Trust from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. BMO Capital Markets reissued a "market perform" rating and set a $12.00 price objective on shares of Chatham Lodging Trust in a research report on Friday, June 12th. 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. Finally, Alliance Global Partners restated a "buy" rating on shares of Chatham Lodging Trust in a research note on Friday, May 8th. One investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

Chatham Lodging Trust Stock Down 0.4%

The business has a 50-day simple moving average of $12.14 and a two-hundred day simple moving average of $9.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $625.51 million, a price-to-earnings ratio of 668.30 and a beta of 1.08.

Chatham Lodging Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.0%. Chatham Lodging Trust's dividend payout ratio (DPR) is currently 2,000.00%.

Hedge Funds Weigh In On Chatham Lodging Trust

Several institutional investors have recently bought and sold shares of the company. Marquette Asset Management LLC purchased a new position in Chatham Lodging Trust during the 2nd quarter worth $802,000. NewEdge Advisors LLC purchased a new stake in shares of Chatham Lodging Trust in the first quarter valued at about $162,000. Bank of America Corp DE boosted its holdings in shares of Chatham Lodging Trust by 3.3% in the first quarter. Bank of America Corp DE now owns 393,197 shares of the real estate investment trust's stock valued at $3,094,000 after acquiring an additional 12,539 shares in the last quarter. Quantinno Capital Management LP increased its stake in shares of Chatham Lodging Trust by 62.8% during the first quarter. Quantinno Capital Management LP now owns 140,257 shares of the real estate investment trust's stock worth $1,104,000 after acquiring an additional 54,096 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in shares of Chatham Lodging Trust during the first quarter worth about $990,000. 88.37% of the stock is owned by institutional investors and hedge funds.

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.

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