Algert Global LLC Lowers Holdings in Chatham Lodging Trust (REIT) $CLDT

Key Points

• Algert Global LLC has significantly reduced its stake in Chatham Lodging Trust by 67.1%, selling 69,677 shares and now holds 34,132 shares valued at $243,000.
• The company recently declared a quarterly dividend of $0.09 per share, representing a yield of 4.7% and an increase from its previous dividend of $0.02.
• Chatham Lodging Trust has received a "buy" rating from analysts, with a consensus target price of $10.75 per share, indicating positive market sentiment around its future performance.

Algert Global LLC cut its holdings in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT - Free Report) by 67.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,132 shares of the real estate investment trust's stock after selling 69,677 shares during the quarter. Algert Global LLC owned approximately 0.07% of Chatham Lodging Trust worth $243,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in shares of Chatham Lodging Trust during the fourth quarter valued at about $56,000. Quarry LP grew its position in shares of Chatham Lodging Trust by 23.5% during the fourth quarter. Quarry LP now owns 7,487 shares of the real estate investment trust's stock valued at $67,000 after purchasing an additional 1,423 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Chatham Lodging Trust by 565.4% during the first quarter. GAMMA Investing LLC now owns 9,568 shares of the real estate investment trust's stock valued at $68,000 after purchasing an additional 8,130 shares in the last quarter. Quantinno Capital Management LP purchased a new position in shares of Chatham Lodging Trust during the fourth quarter valued at about $94,000. Finally, Diversified Trust Co purchased a new position in shares of Chatham Lodging Trust during the first quarter valued at about $106,000. 88.37% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners restated a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Chatham Lodging Trust currently has a consensus rating of "Buy" and a consensus price target of $10.75.

Chatham Lodging Trust Trading Down 0.1%

CLDT traded down $0.01 on Friday, hitting $7.63. The company had a trading volume of 654,191 shares, compared to its average volume of 243,737. The company has a market cap of $373.72 million, a PE ratio of 254.33 and a beta of 1.50. Chatham Lodging Trust has a 12-month low of $5.83 and a 12-month high of $10.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The business's fifty day simple moving average is $7.16 and its 200 day simple moving average is $7.25.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Chatham Lodging Trust had a net margin of 3.04% and a return on equity of 1.19%. The business had revenue of $80.29 million for the quarter, compared to the consensus estimate of $79.67 million. Equities research analysts expect that Chatham Lodging Trust will post 1.07 EPS for the current year.

Chatham Lodging Trust declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 6th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Chatham Lodging Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 4.7%. This is a boost from Chatham Lodging Trust's previous quarterly dividend of $0.02. The ex-dividend date was Monday, June 30th. Chatham Lodging Trust's dividend payout ratio (DPR) is presently 1,200.00%.

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.