Balyasny Asset Management L.P. Has $199,000 Position in Chatham Lodging Trust (NYSE:CLDT)

Balyasny Asset Management L.P. cut its holdings in shares of Chatham Lodging Trust (NYSE:CLDT - Free Report) by 70.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,182 shares of the real estate investment trust's stock after selling 51,815 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Chatham Lodging Trust were worth $199,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in shares of Chatham Lodging Trust in the fourth quarter valued at about $25,000. Quarry LP grew its position in shares of Chatham Lodging Trust by 23.5% in 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 during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Chatham Lodging Trust during the fourth quarter valued at approximately $68,000. Ballentine Partners LLC purchased a new position in shares of Chatham Lodging Trust during the fourth quarter valued at approximately $102,000. Finally, Intech Investment Management LLC purchased a new position in shares of Chatham Lodging Trust during the fourth quarter valued at approximately $155,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CLDT has been the subject of several recent research reports. Stifel Nicolaus dropped their price objective on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Wall Street Zen lowered shares of Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Finally, Alliance Global Partners reiterated a "buy" rating on shares of Chatham Lodging Trust in a report on Tuesday, May 6th.

Chatham Lodging Trust Stock Performance

Chatham Lodging Trust stock traded up $0.01 during mid-day trading on Friday, reaching $6.92. The company had a trading volume of 67,643 shares, compared to its average volume of 416,678. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. Chatham Lodging Trust has a 52 week low of $5.83 and a 52 week high of $10.00. The company has a 50 day moving average of $6.98 and a 200-day moving average of $8.17. The firm has a market cap of $338.72 million, a price-to-earnings ratio of -30.06 and a beta of 1.42.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The company had revenue of $68.64 million during the quarter, compared to the consensus estimate 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 expect that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.

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 paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, March 31st. Chatham Lodging Trust's dividend payout ratio is presently 600.00%.

Chatham Lodging Trust declared that its Board of Directors has initiated a share buyback plan 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 reacquire up to 7.2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

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.