Chatham Lodging Trust (NYSE:CLDT) Price Target Raised to $14.00

Chatham Lodging Trust (NYSE:CLDT) had its target price raised by Stifel Nicolaus from $13.00 to $14.00 in a report issued on Tuesday morning, Marketbeat reports. Stifel Nicolaus currently has a buy rating on the real estate investment trust’s stock.

A number of other research firms also recently commented on CLDT. Alliance Global Partners reaffirmed a “buy” rating on shares of Chatham Lodging Trust in a research report on Friday, May 8th. Zacks Research upgraded Chatham Lodging Trust from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Weiss Ratings raised shares of Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 1st. Finally, 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, June 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.00.

Chatham Lodging Trust Stock Performance

Shares of CLDT stock opened at $13.16 on Tuesday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average price of $11.93 and a 200-day moving average price of $9.20. Chatham Lodging Trust has a 52 week low of $6.08 and a 52 week high of $13.64. The firm has a market capitalization of $614.54 million, a PE ratio of 658.25 and a beta of 1.08.

Chatham Lodging Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 2,000.00%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its stake in Chatham Lodging Trust by 195.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,836 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 3,858 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Chatham Lodging Trust by 1,071.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,652 shares of the real estate investment trust’s stock worth $52,000 after purchasing an additional 6,084 shares during the period. Advisory Services Network LLC purchased a new stake in Chatham Lodging Trust during the 3rd quarter valued at $52,000. Strs Ohio purchased a new stake in Chatham Lodging Trust during the 1st quarter valued at $61,000. Finally, Quarry LP increased its position in Chatham Lodging Trust by 61.9% during the third quarter. Quarry LP now owns 8,629 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 3,300 shares during the last quarter. Institutional investors own 88.37% of the company’s stock.

About Chatham Lodging Trust

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.