Chatham Lodging Trust (NYSE:CLDT) Earns Buy Rating from Analysts at Alliance Global Partners

Alliance Global Partners assumed coverage on shares of Chatham Lodging Trust (NYSE:CLDT - Free Report) in a research report sent to investors on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $12.00 price target on the real estate investment trust's stock.

Separately, StockNews.com raised shares of Chatham Lodging Trust from a "sell" rating to a "hold" rating in a report on Wednesday, August 14th.

Chatham Lodging Trust Stock Performance

Chatham Lodging Trust stock traded up $0.01 during mid-day trading on Wednesday, hitting $9.88. 364,950 shares of the company's stock traded hands, compared to its average volume of 377,676. Chatham Lodging Trust has a fifty-two week low of $7.60 and a fifty-two week high of $11.32. The stock has a market cap of $483.23 million, a price-to-earnings ratio of -42.95 and a beta of 1.82. The firm has a 50 day simple moving average of $8.75 and a two-hundred day simple moving average of $8.56. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96.

Chatham Lodging Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Tuesday, December 31st. Chatham Lodging Trust's dividend payout ratio (DPR) is presently -121.73%.

Institutional Trading of Chatham Lodging Trust

A number of institutional investors and hedge funds have recently made changes to their positions in CLDT. Price T Rowe Associates Inc. MD raised its position in Chatham Lodging Trust by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,705 shares of the real estate investment trust's stock valued at $624,000 after purchasing an additional 1,702 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Chatham Lodging Trust by 322.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,939 shares of the real estate investment trust's stock worth $85,000 after buying an additional 7,587 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Chatham Lodging Trust by 44.1% in the second quarter. Panagora Asset Management Inc. now owns 249,698 shares of the real estate investment trust's stock valued at $2,127,000 after buying an additional 76,439 shares in the last quarter. Quest Partners LLC grew its position in Chatham Lodging Trust by 3,633.4% in the second quarter. Quest Partners LLC now owns 72,055 shares of the real estate investment trust's stock valued at $614,000 after acquiring an additional 70,125 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Chatham Lodging Trust in the second quarter valued at about $46,000. 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.