Chatham Lodging Trust (NYSE:CLDT) Reaches New 1-Year High – Should You Buy?

Chatham Lodging Trust (REIT) (NYSE:CLDT)’s share price reached a new 52-week high on Thursday . The stock traded as high as $12.31 and last traded at $12.2520, with a volume of 722278 shares changing hands. The stock had previously closed at $11.97.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Alliance Global Partners reiterated a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. Stifel Nicolaus set a $13.00 target price on shares of Chatham Lodging Trust in a report on Friday, June 5th. 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. Zacks Research downgraded shares of Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, BMO Capital Markets reiterated a “market perform” rating and issued a $12.00 target price on shares of Chatham Lodging Trust in a report on Friday. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.50.

Chatham Lodging Trust Trading Up 1.7%

The company’s 50 day simple moving average is $9.78 and its 200 day simple moving average is $8.14. The firm has a market cap of $601.75 million, a price-to-earnings ratio of 644.55 and a beta of 1.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.73 and a quick ratio of 0.73.

Chatham Lodging Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.10 dividend. The ex-dividend date 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%.

Hedge Funds Weigh In On Chatham Lodging Trust

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Chatham Lodging Trust by 0.4% in the third quarter. Vanguard Group Inc. now owns 5,105,021 shares of the real estate investment trust’s stock worth $34,255,000 after acquiring an additional 21,541 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in shares of Chatham Lodging Trust by 1.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,684,548 shares of the real estate investment trust’s stock worth $31,902,000 after acquiring an additional 88,879 shares in the last quarter. Sculptor Capital LP grew its stake in shares of Chatham Lodging Trust by 10.6% in the fourth quarter. Sculptor Capital LP now owns 2,365,395 shares of the real estate investment trust’s stock worth $16,108,000 after acquiring an additional 227,500 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Chatham Lodging Trust by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 1,291,554 shares of the real estate investment trust’s stock worth $8,797,000 after acquiring an additional 32,861 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Chatham Lodging Trust by 23.4% in the fourth quarter. AQR Capital Management LLC now owns 1,075,565 shares of the real estate investment trust’s stock worth $7,325,000 after acquiring an additional 204,290 shares in the last quarter. Institutional investors and hedge funds 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.