Chatham Lodging Trust (NYSE:CLDT) Sets New 52-Week High Following Dividend Announcement

Chatham Lodging Trust (REIT) (NYSE:CLDT) hit a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $11.60 and last traded at $11.5340, with a volume of 98233 shares changing hands. The stock had previously closed at $11.30.

The newly announced dividend which will be paid on Wednesday, July 15th. Investors 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 3.5%. Chatham Lodging Trust’s dividend payout ratio (DPR) is 2,000.00%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Stifel Nicolaus set a $13.00 price objective on shares of Chatham Lodging Trust in a research note on Friday. Weiss Ratings upgraded shares of Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 1st. Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a report on Friday, May 8th. Finally, Zacks Research downgraded shares of Chatham Lodging Trust from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Chatham Lodging Trust presently has an average rating of “Moderate Buy” and a consensus target price of $13.00.

Chatham Lodging Trust Price Performance

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 company’s fifty day simple moving average is $9.34 and its two-hundred day simple moving average is $7.94. The stock has a market capitalization of $532.67 million, a PE ratio of 570.55 and a beta of 1.12.

Hedge Funds Weigh In On Chatham Lodging Trust

Several hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in shares of Chatham Lodging Trust by 26.7% during the first quarter. Royal Bank of Canada now owns 193,422 shares of the real estate investment trust’s stock worth $1,379,000 after buying an additional 40,746 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Chatham Lodging Trust by 35.8% during the first quarter. AQR Capital Management LLC now owns 98,409 shares of the real estate investment trust’s stock worth $702,000 after buying an additional 25,926 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of Chatham Lodging Trust by 6.6% during the first quarter. Jane Street Group LLC now owns 289,534 shares of the real estate investment trust’s stock worth $2,064,000 after buying an additional 18,030 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Chatham Lodging Trust during the first quarter worth about $62,000. Finally, Strs Ohio purchased a new stake in shares of Chatham Lodging Trust during the first quarter worth about $61,000. 88.37% of the stock is currently owned by hedge funds and other 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.