Shares of Chatham Lodging Trust (REIT) (NYSE:CLDT - Get Free Report) passed 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 traded.
Analyst Upgrades and Downgrades
A number of research firms have commented on CLDT. Stifel Nicolaus dropped their price target on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Wall Street Zen downgraded shares of Chatham Lodging Trust from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Chatham Lodging Trust in a report on Tuesday, May 6th.
Read Our Latest Research Report on CLDT
Chatham Lodging Trust Price Performance
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 business's fifty day moving average is $7.02 and its 200 day moving average is $7.92. The firm has a market capitalization of $344.43 million, a P/E ratio of 117.20 and a beta of 1.44.
Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last released its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Chatham Lodging Trust had a net margin of 3.44% and a return on equity of 1.38%. The business had revenue of $68.64 million for the quarter, compared to the consensus estimate of $67.99 million. As a group, analysts forecast that Chatham Lodging Trust will post 1.07 EPS for the current year.
Chatham Lodging Trust Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.09 per share. The ex-dividend date is Monday, June 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.12%. This is a positive change from Chatham Lodging Trust's previous quarterly dividend of $0.02. Chatham Lodging Trust's payout ratio is currently 600.00%.
Chatham Lodging Trust announced that its board has initiated a share buyback plan on Tuesday, May 6th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.
Institutional Investors Weigh In On Chatham Lodging Trust
Large investors have recently made changes to their positions in the company. Asset Management One Co. Ltd. raised its holdings in shares of Chatham Lodging Trust by 8.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 75,660 shares of the real estate investment trust's stock valued at $679,000 after acquiring an additional 5,703 shares during the period. Barclays PLC raised its holdings in shares of Chatham Lodging Trust by 15.7% during the fourth quarter. Barclays PLC now owns 326,530 shares of the real estate investment trust's stock valued at $2,922,000 after acquiring an additional 44,335 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Chatham Lodging Trust during the fourth quarter valued at approximately $244,000. Northern Trust Corp raised its holdings in shares of Chatham Lodging Trust by 8.0% during the fourth quarter. Northern Trust Corp now owns 506,353 shares of the real estate investment trust's stock valued at $4,532,000 after acquiring an additional 37,574 shares during the period. Finally, Bank of America Corp DE raised its holdings in shares of Chatham Lodging Trust by 9.5% during the fourth quarter. Bank of America Corp DE now owns 682,486 shares of the real estate investment trust's stock valued at $6,108,000 after acquiring an additional 58,943 shares during the period. Institutional investors and hedge funds own 88.37% of the company's stock.
About Chatham Lodging Trust
(
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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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