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

Chatham Lodging Trust (REIT) (NYSE:CLDT) hit a new 52-week high on Wednesday . The company traded as high as $13.18 and last traded at $13.1040, with a volume of 13901 shares traded. The stock had previously closed at $13.04.

Analysts Set New Price Targets

CLDT has been the topic of several research analyst reports. Zacks Research lowered Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings raised Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Alliance Global Partners reaffirmed a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $12.00 price objective on shares of Chatham Lodging Trust in a research report on Friday. Finally, Stifel Nicolaus set a $13.00 price target on shares of Chatham Lodging Trust in a research note on Friday, June 5th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.50.

Chatham Lodging Trust Stock Performance

The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $9.98 and a 200-day moving average price of $8.23. The company has a market cap of $609.89 million, a P/E ratio of 655.00 and a beta of 1.11.

Chatham Lodging Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $0.40 annualized dividend and a dividend yield of 3.1%. Chatham Lodging Trust’s payout ratio is 2,000.00%.

Institutional Investors Weigh In On Chatham Lodging Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Chatham Lodging Trust by 26.7% during the 1st quarter. Royal Bank of Canada now owns 193,422 shares of the real estate investment trust’s stock worth $1,379,000 after acquiring an additional 40,746 shares during the last quarter. AQR Capital Management LLC grew its holdings in Chatham Lodging Trust by 35.8% in the first quarter. AQR Capital Management LLC now owns 98,409 shares of the real estate investment trust’s stock worth $702,000 after purchasing an additional 25,926 shares during the period. Jane Street Group LLC grew its stake in shares of Chatham Lodging Trust by 6.6% in the 1st quarter. Jane Street Group LLC now owns 289,534 shares of the real estate investment trust’s stock valued at $2,064,000 after buying an additional 18,030 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Chatham Lodging Trust during the first quarter valued at approximately $62,000. Finally, Strs Ohio bought a new stake in Chatham Lodging Trust during the 1st quarter valued at $61,000. Institutional investors own 88.37% of the company’s stock.

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.