Chatham Lodging Trust (NYSE:CLDT) Stock Passes Above Fifty Day Moving Average - Here's Why

Key Points

• Chatham Lodging Trust (CLDT) shares moved above their 50-day moving average on Tuesday, trading as high as $13.50 and last changing hands at $13.44.
• Analyst sentiment has improved, with recent upgrades from Zacks and Stifel helping push the stock to an average Moderate Buy rating and a consensus target price of $13.00.
• The company also paid a quarterly dividend of $0.10 per share, equal to a 3.0% annualized yield, while institutional investors hold the vast majority of the stock.

Chatham Lodging Trust (REIT) (NYSE:CLDT - Get Free Report) shares crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $12.14 and traded as high as $13.50. Chatham Lodging Trust shares last traded at $13.44, with a volume of 444,537 shares traded.

Analysts Set New Price Targets

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

Chatham Lodging Trust Price Performance

The firm has a market capitalization of $627.38 million, a PE ratio of 672.00 and a beta of 1.08. 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 stock has a fifty day moving average price of $12.14 and a 200-day moving average price of $9.34.

Chatham Lodging Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, June 30th. Chatham Lodging Trust's payout ratio is 2,000.00%.

Hedge Funds Weigh In On Chatham Lodging Trust

Large investors have recently added to or reduced their stakes in the company. Marquette Asset Management LLC bought a new stake in shares of Chatham Lodging Trust in the 2nd quarter valued at about $802,000. NewEdge Advisors LLC purchased a new stake in Chatham Lodging Trust during the first quarter valued at approximately $162,000. Bank of America Corp DE lifted its position in Chatham Lodging Trust by 3.3% during 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 during the last quarter. Quantinno Capital Management LP lifted its position in 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 valued at $1,104,000 after acquiring an additional 54,096 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Chatham Lodging Trust in the first quarter valued at approximately $990,000. 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.

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