Chatham Lodging Trust (NYSE:CLDT) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE grew its position in Chatham Lodging Trust (NYSE:CLDT - Free Report) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 682,486 shares of the real estate investment trust's stock after buying an additional 58,943 shares during the quarter. Bank of America Corp DE owned 1.40% of Chatham Lodging Trust worth $6,108,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Barclays PLC grew its stake in Chatham Lodging Trust by 76.1% during the 3rd quarter. Barclays PLC now owns 282,195 shares of the real estate investment trust's stock worth $2,404,000 after purchasing an additional 121,920 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in Chatham Lodging Trust by 8.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 75,660 shares of the real estate investment trust's stock worth $679,000 after buying an additional 5,703 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Chatham Lodging Trust during the 4th quarter worth about $102,000. Proficio Capital Partners LLC purchased a new stake in Chatham Lodging Trust during the 4th quarter worth about $244,000. Finally, Northern Trust Corp lifted its holdings in 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 worth $4,532,000 after buying an additional 37,574 shares during the last quarter. 88.37% of the stock is owned by institutional investors and hedge funds.

Chatham Lodging Trust Stock Performance

CLDT traded down $0.05 on Friday, hitting $7.13. 370,252 shares of the company traded hands, compared to its average volume of 413,846. The company has a 50 day moving average of $6.93 and a 200-day moving average of $8.09. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $349.26 million, a PE ratio of -31.00 and a beta of 1.42. Chatham Lodging Trust has a 12-month low of $5.83 and a 12-month high of $10.00.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $68.64 million during the quarter, compared to analysts' expectations of $67.99 million. Chatham Lodging Trust had a negative return on equity of 0.39% and a negative net margin of 0.99%. Sell-side analysts anticipate that Chatham Lodging Trust will post 1.07 earnings per share for the current year.

Chatham Lodging Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Monday, March 31st. Chatham Lodging Trust's payout ratio is 600.00%.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on CLDT shares. Alliance Global Partners reaffirmed a "buy" rating on shares of Chatham Lodging Trust in a report on Tuesday, May 6th. Wall Street Zen downgraded Chatham Lodging Trust from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, Stifel Nicolaus reduced their target price 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.

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.