BlackRock Inc. Acquires New Holdings in Chatham Lodging Trust (REIT) $CLDT

Key Points

• BlackRock acquired 8.97 million shares of Chatham Lodging Trust during the second quarter, worth approximately $118.7 million and representing a 19.22% stake. Institutional investors collectively own 88.37% of the REIT.
• Analysts maintain a mixed outlook, with a consensus “Hold” rating and an average price target of $13.00; Stifel raised its target to $14.00 and kept a “Buy” rating.
• Chatham reported quarterly EPS of $0.13, beating estimates of $0.11, while revenue reached $87.8 million. The company also declared a quarterly dividend of $0.10 per share, equal to a 2.9% annualized yield.

BlackRock Inc. bought a new stake in Chatham Lodging Trust (REIT) (NYSE:CLDT - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,972,566 shares of the real estate investment trust's stock, valued at approximately $118,707,000. BlackRock Inc. owned about 19.22% of Chatham Lodging Trust at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in Chatham Lodging Trust by 195.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,836 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 3,858 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Chatham Lodging Trust by 1,071.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,652 shares of the real estate investment trust's stock worth $52,000 after buying an additional 6,084 shares in the last quarter. Advisory Services Network LLC purchased a new position in Chatham Lodging Trust in the 3rd quarter valued at approximately $52,000. Strs Ohio purchased a new position in Chatham Lodging Trust in the 1st quarter valued at approximately $61,000. Finally, Quarry LP grew its stake in shares of Chatham Lodging Trust by 61.9% in the third quarter. Quarry LP now owns 8,629 shares of the real estate investment trust's stock worth $58,000 after acquiring an additional 3,300 shares in the last quarter. Hedge funds and other institutional investors own 88.37% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CLDT shares. BMO Capital Markets reaffirmed a "market perform" rating and set a $12.00 price objective on shares of Chatham Lodging Trust in a research report on Friday, June 12th. Stifel Nicolaus raised their target price on shares of Chatham Lodging Trust from $13.00 to $14.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Zacks Research downgraded shares of Chatham Lodging Trust from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 12th. Alliance Global Partners reissued a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of Chatham Lodging Trust from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Chatham Lodging Trust currently has a consensus rating of "Hold" and an average price target of $13.00.

Chatham Lodging Trust Stock Up 1.9%

CLDT stock opened at $13.60 on Friday. The stock has a market cap of $634.85 million, a P/E ratio of 170.02 and a beta of 1.08. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.28. Chatham Lodging Trust has a twelve month low of $6.08 and a twelve month high of $13.89. The company's 50 day moving average is $13.19 and its two-hundred day moving average is $10.54.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The real estate investment trust reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. Chatham Lodging Trust had a net margin of 4.00% and a return on equity of 1.56%. The firm had revenue of $87.80 million for the quarter, compared to analyst estimates of $82.01 million. Chatham Lodging Trust has set its FY 2026 guidance at 1.280-1.340 EPS. Research analysts expect that Chatham Lodging Trust will post 1.33 earnings per share for the current fiscal year.

Chatham Lodging Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.9%. Chatham Lodging Trust's payout ratio is 500.00%.

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.

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