Chatham Lodging Trust (NYSE:CLDT) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Chatham Lodging Trust (NYSE:CLDT) from a hold rating to a buy rating in a report released on Tuesday morning.

Separately, Alliance Global Partners initiated coverage on Chatham Lodging Trust in a report on Wednesday, December 11th. They issued a “buy” rating and a $12.00 target price on the stock.

Chatham Lodging Trust Trading Down 0.7 %

CLDT stock opened at $7.57 on Tuesday. Chatham Lodging Trust has a 1-year low of $7.46 and a 1-year high of $10.46. The firm has a market cap of $370.94 million, a P/E ratio of -32.93 and a beta of 1.82. The business’s 50 day moving average is $8.43 and its 200-day moving average is $8.66. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.37.

Chatham Lodging Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Monday, March 31st. Chatham Lodging Trust’s payout ratio is currently -450.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Donald Smith & CO. Inc. lifted its holdings in Chatham Lodging Trust by 30.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,497,679 shares of the real estate investment trust’s stock worth $40,254,000 after buying an additional 1,055,999 shares in the last quarter. State Street Corp lifted its holdings in Chatham Lodging Trust by 1.1% during the 3rd quarter. State Street Corp now owns 1,634,114 shares of the real estate investment trust’s stock worth $14,036,000 after buying an additional 17,428 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Chatham Lodging Trust by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,285,326 shares of the real estate investment trust’s stock worth $10,953,000 after buying an additional 26,129 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Chatham Lodging Trust by 53.4% during the 4th quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust’s stock worth $8,685,000 after buying an additional 337,842 shares in the last quarter. Finally, Bank of America Corp DE lifted its holdings in Chatham Lodging Trust by 9.5% during the 4th quarter. Bank of America Corp DE now owns 682,486 shares of the real estate investment trust’s stock worth $6,108,000 after buying an additional 58,943 shares in the last quarter. Institutional investors and hedge funds 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.