Alliance Global Partners Initiates Coverage on Chatham Lodging Trust (NYSE:CLDT)

Alliance Global Partners assumed coverage on shares of Chatham Lodging Trust (NYSE:CLDT) in a report published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $12.00 target price 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 research report on Wednesday, August 14th.

Chatham Lodging Trust Price Performance

NYSE:CLDT opened at $9.67 on Wednesday. The stock has a market capitalization of $472.96 million, a PE ratio of -42.04 and a beta of 1.82. Chatham Lodging Trust has a 1-year low of $7.60 and a 1-year high of $11.32. The firm has a fifty day simple moving average of $8.83 and a 200 day simple moving average of $8.59. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.28 annualized dividend and a dividend yield of 2.90%. Chatham Lodging Trust’s dividend payout ratio is currently -121.73%.

Institutional Investors Weigh In On Chatham Lodging Trust

Large investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. bought a new position in Chatham Lodging Trust during the second quarter worth $46,000. Quarry LP boosted its holdings in shares of Chatham Lodging Trust by 303.7% during the 2nd quarter. Quarry LP now owns 5,515 shares of the real estate investment trust’s stock worth $47,000 after buying an additional 4,149 shares during the period. Point72 DIFC Ltd acquired a new position in Chatham Lodging Trust in the 2nd quarter valued at about $63,000. Allspring Global Investments Holdings LLC raised its holdings in Chatham Lodging Trust by 322.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,939 shares of the real estate investment trust’s stock valued at $85,000 after acquiring an additional 7,587 shares during the period. Finally, Creative Planning bought a new position in Chatham Lodging Trust in the 3rd quarter valued at about $89,000. Institutional investors own 88.37% of the company’s stock.

Chatham Lodging Trust Company Profile

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.