Chatham Lodging Trust (NYSE:CLDT) Hits New 1-Year High - Here's Why

Key Points

• Chatham Lodging Trust hit a new 52-week high, trading as high as $16.49 and last at $16.28, up from its previous close of $15.88.
• Analyst sentiment is broadly positive: MarketBeat reports a consensus “Buy” rating, though the average $14.25 price target is below the stock’s latest trading price.
• The REIT declared a quarterly dividend of $0.10 per share, equivalent to a 2.4% annualized yield; its reported payout ratio is 250%.

Chatham Lodging Trust (REIT) (NYSE:CLDT - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday. The stock traded as high as $16.49 and last traded at $16.2820, with a volume of 17,268 shares traded. The stock had previously closed at $15.88.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Alliance Global Partners restated a "buy" rating on shares of Chatham Lodging Trust in a research note on Tuesday, August 4th. Weiss Ratings upgraded Chatham Lodging Trust from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday. Wall Street Zen raised Chatham Lodging Trust from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Morgan Stanley downgraded Chatham Lodging Trust to an "outperform" rating in a report on Friday, October 16th. Finally, Zacks Research raised shares of Chatham Lodging Trust from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $14.25.

Chatham Lodging Trust Stock Performance

The company has a market capitalization of $760.50 million, a P/E ratio of 102.10 and a beta of 1.11. The stock's fifty day moving average price is $13.83 and its 200-day moving average price is $11.19. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.87 and a current ratio of 0.87.

Chatham Lodging Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Wednesday, December 30th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, December 30th. This represents a $0.40 annualized dividend and a yield of 2.4%. Chatham Lodging Trust's dividend payout ratio is currently 250.00%.

Institutional Trading of Chatham Lodging Trust

A number of hedge funds have recently made changes to their positions in CLDT. Diversified Trust Co increased its holdings in shares of Chatham Lodging Trust by 21.9% during the 3rd quarter. Diversified Trust Co now owns 27,989 shares of the real estate investment trust's stock worth $374,000 after acquiring an additional 5,019 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Chatham Lodging Trust by 160.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 152,171 shares of the real estate investment trust's stock valued at $2,038,000 after purchasing an additional 93,840 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Chatham Lodging Trust by 4.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 69,042 shares of the real estate investment trust's stock worth $936,000 after purchasing an additional 2,735 shares during the period. State of Wyoming boosted its position in Chatham Lodging Trust by 7.7% during the third quarter. State of Wyoming now owns 33,539 shares of the real estate investment trust's stock worth $449,000 after purchasing an additional 2,402 shares during the period. Finally, Sterling Capital Management LLC boosted its position in Chatham Lodging Trust by 1,261.8% during the third quarter. Sterling Capital Management LLC now owns 12,406 shares of the real estate investment trust's stock worth $166,000 after purchasing an additional 11,495 shares during the period. 88.37% of the stock is owned by institutional investors and hedge funds.

About Chatham Lodging Trust

Chatham Lodging Trust NYSE: CLDT is a real estate investment trust focused on owning upscale extended-stay hotels and premium-branded select-service hotels. Its properties are affiliated with established hotel brands and serve business and leisure travelers. The trust's portfolio is concentrated in major U.S. markets, including coastal locations and other areas with strong lodging demand. Its extended-stay properties cater to guests seeking accommodations for longer visits, while its select-service hotels offer lodging and core guest services.

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