Bank of America Corp DE Raises Holdings in Chatham Lodging Trust (NYSE:CLDT)

Bank of America Corp DE boosted its stake in shares of Chatham Lodging Trust (NYSE:CLDT - Free Report) by 9.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 682,486 shares of the real estate investment trust's stock after acquiring an additional 58,943 shares during the period. Bank of America Corp DE owned 1.40% of Chatham Lodging Trust worth $6,108,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its stake in Chatham Lodging Trust by 74.5% during the fourth quarter. BNP Paribas Financial Markets now owns 34,487 shares of the real estate investment trust's stock valued at $309,000 after acquiring an additional 14,728 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Chatham Lodging Trust by 39.2% in the 4th quarter. Ameriprise Financial Inc. now owns 164,870 shares of the real estate investment trust's stock worth $1,480,000 after buying an additional 46,445 shares during the last quarter. Algert Global LLC increased its holdings in shares of Chatham Lodging Trust by 171.3% in the 4th quarter. Algert Global LLC now owns 103,809 shares of the real estate investment trust's stock worth $929,000 after buying an additional 65,542 shares during the last quarter. Northern Trust Corp raised its position in shares of Chatham Lodging Trust by 8.0% during the 4th quarter. Northern Trust Corp now owns 506,353 shares of the real estate investment trust's stock valued at $4,532,000 after buying an additional 37,574 shares in the last quarter. Finally, Landmark Investment Partners L.P. purchased a new stake in shares of Chatham Lodging Trust during the 4th quarter valued at about $806,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

Chatham Lodging Trust Trading Up 0.7%

NYSE:CLDT traded up $0.05 during mid-day trading on Thursday, hitting $7.18. 157,118 shares of the stock traded hands, compared to its average volume of 413,772. The stock has a market capitalization of $351.71 million, a price-to-earnings ratio of -31.22 and a beta of 1.42. Chatham Lodging Trust has a 52 week low of $5.83 and a 52 week high of $10.00. The firm's 50 day moving average is $6.94 and its two-hundred day moving average is $8.12. 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 (NYSE:CLDT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. The company had revenue of $68.64 million for 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, equities research analysts predict that Chatham Lodging Trust will post 1.07 earnings per share for the current year.

Chatham Lodging Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.08 annualized dividend and a yield of 1.11%. Chatham Lodging Trust's payout ratio is 600.00%.

Chatham Lodging Trust declared that its Board of Directors has approved a share buyback program on Tuesday, May 6th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Alliance Global Partners restated a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th. Stifel Nicolaus decreased 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 research report on Wednesday, April 16th. Finally, Wall Street Zen cut shares of Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th.

Chatham Lodging Trust Company 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.