Chatham Lodging Trust (NYSE:CLDT) Receives Consensus Recommendation of “Hold” from Analysts

Chatham Lodging Trust (NYSE:CLDT) has been assigned an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.00.

Several research analysts have recently commented on CLDT shares. Zacks Investment Research raised shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Tuesday, October 1st. BMO Capital Markets assumed coverage on shares of Chatham Lodging Trust in a report on Wednesday, October 16th. They set a “market perform” rating and a $17.00 target price on the stock. Barclays set a $18.00 price objective on shares of Chatham Lodging Trust and gave the company a “hold” rating in a research note on Monday, August 12th. B. Riley decreased their price objective on shares of Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, ValuEngine raised shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd.

Shares of CLDT traded up $0.09 during mid-day trading on Wednesday, hitting $17.86. 190,400 shares of the company’s stock were exchanged, compared to its average volume of 237,347. Chatham Lodging Trust has a 52 week low of $16.29 and a 52 week high of $21.74. The stock’s 50-day simple moving average is $17.79 and its 200-day simple moving average is $18.52. The firm has a market cap of $836.11 million, a price-to-earnings ratio of 9.16 and a beta of 1.08. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.73.

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Thursday, October 31st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, October 30th. This represents a $1.32 dividend on an annualized basis and a yield of 7.39%. Chatham Lodging Trust’s dividend payout ratio (DPR) is 67.69%.

In other news, Director Robert D. Perlmutter acquired 2,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average cost of $16.40 per share, with a total value of $41,000.00. Following the completion of the purchase, the director now directly owns 45,666 shares of the company’s stock, valued at approximately $748,922.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.60% of the company’s stock.

A number of large investors have recently made changes to their positions in CLDT. Renaissance Technologies LLC grew its stake in shares of Chatham Lodging Trust by 10.1% during the second quarter. Renaissance Technologies LLC now owns 1,727,300 shares of the real estate investment trust’s stock worth $32,594,000 after buying an additional 158,500 shares during the last quarter. Invesco Ltd. grew its stake in shares of Chatham Lodging Trust by 14.2% during the second quarter. Invesco Ltd. now owns 1,589,944 shares of the real estate investment trust’s stock worth $30,002,000 after buying an additional 197,377 shares during the last quarter. Northern Trust Corp grew its stake in shares of Chatham Lodging Trust by 1.9% during the second quarter. Northern Trust Corp now owns 1,210,926 shares of the real estate investment trust’s stock worth $22,850,000 after buying an additional 22,333 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Chatham Lodging Trust by 8.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 708,107 shares of the real estate investment trust’s stock worth $13,362,000 after buying an additional 52,852 shares during the last quarter. Finally, Morgan Stanley grew its stake in shares of Chatham Lodging Trust by 38.4% during the second quarter. Morgan Stanley now owns 356,100 shares of the real estate investment trust’s stock worth $6,719,000 after buying an additional 98,862 shares during the last quarter. 84.81% of the stock is currently owned by institutional investors and hedge funds.

About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 137 hotels totaling 18,783 rooms/suites, comprised of 42 properties it wholly owns with an aggregate of 6,283 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,500 rooms/suites.

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