Northern Trust Corp Grows Holdings in Chatham Lodging Trust (NYSE:CLDT)

Northern Trust Corp grew its stake in Chatham Lodging Trust (NYSE:CLDT - Free Report) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 506,353 shares of the real estate investment trust's stock after buying an additional 37,574 shares during the quarter. Northern Trust Corp owned approximately 1.04% of Chatham Lodging Trust worth $4,532,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in CLDT. Quantbot Technologies LP purchased a new stake in shares of Chatham Lodging Trust during the fourth quarter worth about $25,000. Quarry LP lifted its stake in shares of Chatham Lodging Trust by 23.5% during the 4th 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 during the 4th quarter worth $68,000. Ballentine Partners LLC purchased a new position in Chatham Lodging Trust during the 4th quarter worth $102,000. Finally, Intech Investment Management LLC bought a new position in shares of Chatham Lodging Trust in the 4th quarter worth $155,000. Hedge funds and other institutional investors own 88.37% of the company's stock.

Chatham Lodging Trust Trading Up 3.1%

Chatham Lodging Trust stock traded up $0.22 during midday trading on Tuesday, hitting $7.15. 185,447 shares of the stock were exchanged, compared to its average volume of 416,123. Chatham Lodging Trust has a fifty-two week low of $5.83 and a fifty-two week high of $10.00. The stock has a market capitalization of $349.99 million, a price-to-earnings ratio of -31.06 and a beta of 1.42. The stock's 50-day simple moving average is $6.95 and its 200 day simple moving average is $8.13. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.37.

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 net margin of 0.99% and a negative return on equity of 0.39%. On average, equities analysts anticipate that Chatham Lodging Trust will post 1.07 EPS for the current year.

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

Chatham Lodging Trust Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on CLDT shares. Alliance Global Partners reaffirmed a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th. Stifel Nicolaus cut their price objective on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating for the company 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.