Chatham Lodging Trust (NYSE:CLDT) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its holdings in Chatham Lodging Trust (NYSE:CLDT - Free Report) by 8.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 506,353 shares of the real estate investment trust's stock after purchasing an additional 37,574 shares during the period. Northern Trust Corp owned approximately 1.04% of Chatham Lodging Trust worth $4,532,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Chatham Lodging Trust in the fourth quarter valued at approximately $25,000. Quarry LP lifted its stake in 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 worth $67,000 after acquiring an additional 1,423 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in Chatham Lodging Trust in the fourth quarter worth approximately $68,000. Ballentine Partners LLC purchased a new position in Chatham Lodging Trust in the fourth quarter worth approximately $102,000. Finally, Intech Investment Management LLC purchased a new position in Chatham Lodging Trust in the fourth quarter worth approximately $155,000. Institutional investors and hedge funds own 88.37% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CLDT shares. Stifel Nicolaus decreased their price target on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Wall Street Zen downgraded 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 research note on Tuesday, May 6th.

Chatham Lodging Trust Stock Up 0.2%

Shares of NYSE:CLDT traded up $0.02 during trading on Friday, hitting $6.93. 208,174 shares of the company were exchanged, compared to its average volume of 417,021. The stock has a market capitalization of $339.21 million, a P/E ratio of -30.11 and a beta of 1.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96. Chatham Lodging Trust has a 12-month low of $5.83 and a 12-month high of $10.00. The firm's 50 day moving average price is $6.97 and its 200-day moving average price is $8.16.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The business 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, research analysts predict that Chatham Lodging Trust will post 1.07 earnings per share for the current fiscal year.

Chatham Lodging Trust announced that its board has approved a stock repurchase 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 reacquire up to 7.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its shares are undervalued.

Chatham Lodging Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.02 per share. The ex-dividend date was Monday, March 31st. This represents a $0.08 annualized dividend and a dividend yield of 1.16%. Chatham Lodging Trust's dividend payout ratio is presently 600.00%.

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.