Chatham Lodging Trust (REIT) (CLDT) Reaches New 52-Week High at $21.94

Shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $21.94 and last traded at $21.97, with a volume of 77,705 shares traded. The stock had previously closed at $21.70.

CLDT has been the topic of a number of research analyst reports. BidaskClub raised Chatham Lodging Trust (REIT) from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Zacks Investment Research raised Chatham Lodging Trust (REIT) from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Friday, October 6th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $19.50 price target on shares of Chatham Lodging Trust (REIT) in a research note on Thursday, September 7th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $20.00 price target on shares of Chatham Lodging Trust (REIT) in a research note on Thursday, September 21st. Finally, Janney Montgomery Scott initiated coverage on Chatham Lodging Trust (REIT) in a research note on Friday, September 15th. They issued a “neutral” rating and a $21.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $20.92.

The company’s 50 day moving average price is $20.80 and its 200-day moving average price is $20.10. The firm has a market cap of $861.30 million, a P/E ratio of 33.32 and a beta of 1.07.

Chatham Lodging Trust (REIT) (NYSE:CLDT) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.52). Chatham Lodging Trust (REIT) had a return on equity of 3.76% and a net margin of 8.73%. The business had revenue of $77.90 million for the quarter, compared to analysts’ expectations of $77.84 million. During the same period in the prior year, the company earned $0.69 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. Analysts expect that Chatham Lodging Trust will post $0.59 EPS for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Friday, November 24th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date is Monday, October 30th. Chatham Lodging Trust (REIT)’s dividend payout ratio is presently 200.00%.

In other Chatham Lodging Trust (REIT) news, Director Robert D. Perlmutter sold 2,566 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $20.37, for a total transaction of $52,269.42. Following the transaction, the director now owns 33,258 shares of the company’s stock, valued at approximately $677,465.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Chatham Lodging Trust (REIT) by 8.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,927,364 shares of the real estate investment trust’s stock worth $98,990,000 after buying an additional 376,788 shares during the period. State Street Corp raised its position in shares of Chatham Lodging Trust (REIT) by 28.5% in the 2nd quarter. State Street Corp now owns 1,133,956 shares of the real estate investment trust’s stock worth $22,774,000 after buying an additional 251,188 shares during the period. Boston Partners raised its position in shares of Chatham Lodging Trust (REIT) by 2.1% in the 2nd quarter. Boston Partners now owns 1,091,097 shares of the real estate investment trust’s stock worth $21,920,000 after buying an additional 22,621 shares during the period. Northern Trust Corp raised its position in shares of Chatham Lodging Trust (REIT) by 65.7% in the 2nd quarter. Northern Trust Corp now owns 1,078,405 shares of the real estate investment trust’s stock worth $21,665,000 after buying an additional 427,418 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Chatham Lodging Trust (REIT) by 90.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 610,776 shares of the real estate investment trust’s stock worth $12,270,000 after buying an additional 289,400 shares during the period. 83.10% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This story was first posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.com-unik.info/2017/10/12/chatham-lodging-trust-reit-cldt-reaches-new-52-week-high-at-21-94.html.

About Chatham Lodging Trust (REIT)

Chatham Lodging Trust is a real estate investment trust. The Company invests primarily in upscale extended-stay and premium-branded select-service hotels. All of the Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P. (the Operating Partnership). As of December 31, 2016, the Company owned 38 hotels with an aggregate of 5,712 rooms located in 15 states and the District of Columbia.

What are top analysts saying about Chatham Lodging Trust (REIT)? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Chatham Lodging Trust (REIT) and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit