Balyasny Asset Management L.P. Sells 51,815 Shares of Chatham Lodging Trust (NYSE:CLDT)

Balyasny Asset Management L.P. decreased its stake in Chatham Lodging Trust (NYSE:CLDT - Free Report) by 70.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,182 shares of the real estate investment trust's stock after selling 51,815 shares during the period. Balyasny Asset Management L.P.'s holdings in Chatham Lodging Trust were worth $199,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Donald Smith & CO. Inc. boosted its stake in Chatham Lodging Trust by 30.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,497,679 shares of the real estate investment trust's stock worth $40,254,000 after buying an additional 1,055,999 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Chatham Lodging Trust by 53.4% during the fourth quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust's stock worth $8,685,000 after buying an additional 337,842 shares in the last quarter. Bank of America Corp DE boosted its stake in Chatham Lodging Trust by 9.5% during the fourth quarter. Bank of America Corp DE now owns 682,486 shares of the real estate investment trust's stock worth $6,108,000 after buying an additional 58,943 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Chatham Lodging Trust during the fourth quarter worth $5,738,000. Finally, Kennedy Capital Management LLC boosted its stake in Chatham Lodging Trust by 11.4% during the fourth quarter. Kennedy Capital Management LLC now owns 522,959 shares of the real estate investment trust's stock worth $4,680,000 after buying an additional 53,383 shares in the last quarter. Institutional investors and hedge funds own 88.37% of the company's stock.

Chatham Lodging Trust Price Performance

Shares of NYSE CLDT traded up $0.02 during midday trading on Friday, reaching $6.93. 208,174 shares of the company traded hands, compared to its average volume of 417,049. The firm has a market cap of $339.21 million, a PE ratio of -30.11 and a beta of 1.42. The stock's 50-day simple moving average is $6.97 and its 200-day simple moving average is $8.16. Chatham Lodging Trust has a 12 month low of $5.83 and a 12 month high of $10.00. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 0.96.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.01. Chatham Lodging Trust had a negative return on equity of 0.39% and a negative net margin of 0.99%. The business had revenue of $68.64 million during the quarter, compared to analysts' expectations of $67.99 million. As a group, equities analysts anticipate that Chatham Lodging Trust will post 1.07 earnings per share for the current fiscal year.

Chatham Lodging Trust declared that its board has initiated a share buyback plan on Tuesday, May 6th that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the real estate investment trust to purchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Chatham Lodging Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.02 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.16%. Chatham Lodging Trust's dividend payout ratio is 600.00%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Alliance Global Partners reiterated a "buy" rating on shares of Chatham Lodging Trust in a research note on Tuesday, May 6th. Stifel Nicolaus cut their price objective on Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating for the company in a report on Wednesday, April 16th. Finally, Wall Street Zen cut Chatham Lodging Trust from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th.

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.