Algert Global LLC Buys 65,542 Shares of Chatham Lodging Trust (NYSE:CLDT)

Algert Global LLC lifted its holdings in shares of Chatham Lodging Trust (NYSE:CLDT - Free Report) by 171.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,809 shares of the real estate investment trust's stock after buying an additional 65,542 shares during the period. Algert Global LLC owned about 0.21% of Chatham Lodging Trust worth $929,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Chatham Lodging Trust during the 4th quarter worth about $25,000. Quarry LP boosted its stake in shares of Chatham Lodging Trust by 23.5% during the 4th quarter. Quarry LP now owns 7,487 shares of the real estate investment trust's stock worth $67,000 after buying an additional 1,423 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Chatham Lodging Trust during the 4th quarter worth about $68,000. Ballentine Partners LLC acquired a new position in shares of Chatham Lodging Trust during the 4th quarter worth about $102,000. Finally, Intech Investment Management LLC acquired a new position in shares of Chatham Lodging Trust during the 4th quarter worth about $155,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CLDT. Stifel Nicolaus dropped their target price on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating on the stock in a report on Wednesday, April 16th. StockNews.com cut shares of Chatham Lodging Trust from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Chatham Lodging Trust in a report on Tuesday, May 6th.

Chatham Lodging Trust Price Performance

Shares of NYSE CLDT traded down $0.02 during trading hours on Friday, hitting $7.20. 58,433 shares of the stock were exchanged, compared to its average volume of 416,698. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $352.44 million, a PE ratio of -31.26 and a beta of 1.42. The company's fifty day simple moving average is $7.04 and its two-hundred day simple moving average is $8.20. Chatham Lodging Trust has a 1-year low of $5.83 and a 1-year high of $10.00.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The business had revenue of $68.64 million for the quarter, compared to analyst estimates of $67.99 million. Chatham Lodging Trust had a negative net margin of 0.99% and a negative return on equity of 0.39%. On average, sell-side analysts predict that Chatham Lodging Trust will post 1.07 EPS for the current year.

Chatham Lodging Trust declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 6th that permits the company to buyback $25.00 million in shares. This buyback authorization permits the real estate investment trust to buy up to 7.2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Chatham Lodging Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.02 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.08 dividend on an annualized basis and a yield of 1.11%. Chatham Lodging Trust's dividend payout ratio is currently 600.00%.

Chatham Lodging Trust 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.