Chatham Lodging Trust (NYSE:CLDT) Share Price Crosses Below 50-Day Moving Average - Time to Sell?

Chatham Lodging Trust (REIT) (NYSE:CLDT - Get Free Report) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $7.02 and traded as low as $6.95. Chatham Lodging Trust shares last traded at $7.03, with a volume of 230,671 shares trading hands.

Analysts Set New Price Targets

Several research firms have commented on CLDT. Wall Street Zen cut Chatham Lodging Trust from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Stifel Nicolaus lowered their target price on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Alliance Global Partners restated a "buy" rating on shares of Chatham Lodging Trust in a report on Tuesday, May 6th.

Chatham Lodging Trust Price Performance

The company's 50 day moving average price is $7.04 and its 200-day moving average price is $7.88. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $339.17 million, a PE ratio of 115.40 and a beta of 1.44.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. Chatham Lodging Trust had a return on equity of 1.38% and a net margin of 3.44%. The firm had revenue of $68.64 million during the quarter, compared to the consensus estimate of $67.99 million. On average, sell-side analysts forecast that Chatham Lodging Trust will post 1.07 earnings per share for the current fiscal year.

Chatham Lodging Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.09 per share. This is an increase from Chatham Lodging Trust's previous quarterly dividend of $0.02. This represents a $0.36 annualized dividend and a yield of 5.20%. The ex-dividend date is Monday, June 30th. Chatham Lodging Trust's payout ratio is currently 600.00%.

Chatham Lodging Trust announced that its board has initiated a stock repurchase program on Tuesday, May 6th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the real estate investment trust to purchase up to 7.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Institutional Investors Weigh In On Chatham Lodging Trust

Institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC boosted its position in Chatham Lodging Trust by 50.3% during the 1st quarter. Voya Investment Management LLC now owns 120,610 shares of the real estate investment trust's stock worth $860,000 after purchasing an additional 40,360 shares during the period. Strs Ohio purchased a new stake in shares of Chatham Lodging Trust in the first quarter worth about $61,000. Acadian Asset Management LLC purchased a new stake in shares of Chatham Lodging Trust in the first quarter worth about $62,000. Jane Street Group LLC boosted its position in shares of Chatham Lodging Trust by 6.6% in the first quarter. Jane Street Group LLC now owns 289,534 shares of the real estate investment trust's stock worth $2,064,000 after buying an additional 18,030 shares during the period. Finally, Nissay Asset Management Corp Japan ADV purchased a new stake in shares of Chatham Lodging Trust in the first quarter worth about $74,000. 88.37% of the stock is currently owned by hedge funds and other 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.