Chatham Lodging Trust (NYSE:CLDT) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Chatham Lodging Trust (NYSE:CLDT)’s share price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $8.43 and traded as low as $8.04. Chatham Lodging Trust shares last traded at $8.19, with a volume of 597,978 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, August 14th.

Chatham Lodging Trust Stock Performance

The stock has a fifty day simple moving average of $8.43 and a two-hundred day simple moving average of $8.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a market capitalization of $400.56 million, a price-to-earnings ratio of -68.25 and a beta of 1.79.

Chatham Lodging Trust (NYSE:CLDT) last released its earnings results on Friday, August 2nd. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.26). The company had revenue of $86.48 million during the quarter, compared to analyst estimates of $85.48 million. During the same period in the prior year, the company earned $0.43 earnings per share. Analysts forecast that Chatham Lodging Trust will post 1.07 earnings per share for the current fiscal year.

Chatham Lodging Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Monday, September 30th. Chatham Lodging Trust’s dividend payout ratio is presently -233.33%.

Hedge Funds Weigh In On Chatham Lodging Trust

Several institutional investors have recently made changes to their positions in CLDT. Meeder Asset Management Inc. bought a new position in Chatham Lodging Trust in the second quarter worth approximately $46,000. Quarry LP raised its position in shares of Chatham Lodging Trust by 303.7% during the second quarter. Quarry LP now owns 5,515 shares of the real estate investment trust’s stock worth $47,000 after purchasing an additional 4,149 shares during the period. Point72 DIFC Ltd bought a new position in shares of Chatham Lodging Trust in the 2nd quarter worth $63,000. Allspring Global Investments Holdings LLC grew its position 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 purchasing an additional 7,587 shares during the period. Finally, Creative Planning bought a new stake in Chatham Lodging Trust during the 3rd quarter valued at $89,000. 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.