376,256 Shares of Chatham Lodging Trust (REIT) $CLDT Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 376,256 shares of Chatham Lodging Trust in the second quarter, worth approximately $4.98 million and representing about 0.81% of the REIT. Institutional investors collectively owned 88.37% of the company.
• Analyst sentiment remains mixed, with two Buy ratings and three Hold ratings; the consensus rating is Hold with a $13.00 price target. Shares opened at $13.33, near their 52-week high of $13.89.
• Chatham reported quarterly EPS of $0.13, beating estimates of $0.11, on revenue of $87.8 million. The company declared a quarterly dividend of $0.10 per share, implying a 3.0% annualized yield.

Bank of America Corp DE acquired a new stake in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 376,256 shares of the real estate investment trust's stock, valued at approximately $4,978,000. Bank of America Corp DE owned approximately 0.81% of Chatham Lodging Trust at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Sei Investments Co. increased its stake in shares of Chatham Lodging Trust by 97.3% in the 1st quarter. Sei Investments Co. now owns 188,438 shares of the real estate investment trust's stock worth $1,483,000 after acquiring an additional 92,920 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Chatham Lodging Trust during the 2nd quarter valued at about $2,953,000. Canada Pension Plan Investment Board purchased a new stake in shares of Chatham Lodging Trust in the second quarter valued at about $704,000. BlackRock Inc. purchased a new stake in shares of Chatham Lodging Trust in the second quarter valued at about $118,707,000. Finally, Hsbc Holdings PLC acquired a new stake in Chatham Lodging Trust during the second quarter worth about $4,537,000. Institutional investors and hedge funds own 88.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CLDT. BMO Capital Markets restated a "market perform" rating and set a $12.00 price target on shares of Chatham Lodging Trust in a report on Friday, June 12th. Alliance Global Partners reiterated a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, August 4th. Stifel Nicolaus raised their target price on Chatham Lodging Trust from $13.00 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded Chatham Lodging Trust from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Finally, Zacks Research lowered Chatham Lodging Trust from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Chatham Lodging Trust currently has a consensus rating of "Hold" and a consensus target price of $13.00.

Chatham Lodging Trust Stock Down 0.1%

Chatham Lodging Trust stock opened at $13.33 on Tuesday. The company has a market capitalization of $622.24 million, a PE ratio of 166.65 and a beta of 1.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.72 and a current ratio of 0.72. Chatham Lodging Trust has a fifty-two week low of $6.08 and a fifty-two week high of $13.89. The firm has a 50 day moving average price of $13.17 and a 200 day moving average price of $11.35.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.02. The company had revenue of $87.80 million for the quarter, compared to analysts' expectations of $82.01 million. Chatham Lodging Trust had a return on equity of 1.56% and a net margin of 4.00%.Chatham Lodging Trust has set its FY 2026 guidance at 1.280-1.340 EPS. Research analysts expect that Chatham Lodging Trust will post 1.35 earnings per share for the current year.

Chatham Lodging Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.0%. Chatham Lodging Trust's payout ratio is 500.00%.

Chatham Lodging Trust Company Profile

Chatham Lodging Trust was a real estate investment trust that owned and operated upscale, premium-branded hotels in the United States. Its portfolio focused primarily on select-service and extended-stay properties serving business and leisure travelers, with brands affiliated with major hotel companies such as Marriott International, Hilton Worldwide and Hyatt Hotels.

The company's hotel portfolio included properties operating under brands such as Courtyard by Marriott, Residence Inn by Marriott, Homewood Suites by Hilton and Hampton by Hilton.

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