GSA Capital Partners LLP Has $2.02 Million Position in Chatham Lodging Trust (REIT) (NYSE:CLDT)

Key Points

• GSA Capital Partners LLP increased its stake in Chatham Lodging Trust by 39.0%, owning approximately 0.58% of the company worth $2,019,000 as of the last quarter.
• Chatham Lodging Trust has declared a quarterly dividend of $0.09 per share, a significant increase from the previous $0.02, resulting in an annualized yield of 5.11%.
• Despite a recent earnings beat, analysts lowered their price target for Chatham Lodging Trust from $11.00 to $9.50, while maintaining a "buy" rating.

GSA Capital Partners LLP grew its position in Chatham Lodging Trust (REIT) (NYSE:CLDT - Free Report) by 39.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,227 shares of the real estate investment trust's stock after buying an additional 79,402 shares during the quarter. GSA Capital Partners LLP owned 0.58% of Chatham Lodging Trust worth $2,019,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP bought a new position in shares of Chatham Lodging Trust in the fourth quarter worth about $25,000. Lazard Asset Management LLC bought a new stake in shares of Chatham Lodging Trust during the 4th quarter valued at approximately $56,000. Quarry LP increased its stake in shares of 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 valued at $67,000 after buying an additional 1,423 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of Chatham Lodging Trust in the fourth quarter valued at approximately $68,000. Finally, GAMMA Investing LLC increased its stake in shares of Chatham Lodging Trust by 565.4% in the first quarter. GAMMA Investing LLC now owns 9,568 shares of the real estate investment trust's stock valued at $68,000 after buying an additional 8,130 shares during the period. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CLDT has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on 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. Alliance Global Partners reaffirmed a "buy" rating on shares of Chatham Lodging Trust in a research note on Tuesday, May 6th.

Chatham Lodging Trust Trading Down 2.6%

Shares of CLDT traded down $0.18 during mid-day trading on Friday, reaching $6.64. 146,007 shares of the company were exchanged, compared to its average volume of 311,381. Chatham Lodging Trust has a 52 week low of $5.83 and a 52 week high of $10.00. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $325.23 million, a PE ratio of 110.83 and a beta of 1.43. The business has a 50 day simple moving average of $7.12 and a two-hundred day simple moving average of $7.48.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Chatham Lodging Trust had a return on equity of 1.38% and a net margin of 3.44%. The company had revenue of $68.64 million during the quarter, compared to the consensus estimate of $67.99 million. On average, analysts predict that Chatham Lodging Trust will post 1.07 earnings per share for the current fiscal year.

Chatham Lodging Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.09 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.4%. This is a positive change from Chatham Lodging Trust's previous quarterly dividend of $0.02. Chatham Lodging Trust's dividend payout ratio (DPR) is presently 600.00%.

Chatham Lodging Trust declared that its Board of Directors has initiated a share repurchase plan on Tuesday, May 6th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to purchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.