GSA Capital Partners LLP Raises Stock 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 boosted its position in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT - Free Report) by 39.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 283,227 shares of the real estate investment trust's stock after purchasing an additional 79,402 shares during the period. GSA Capital Partners LLP owned approximately 0.58% of Chatham Lodging Trust worth $2,019,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Quantbot Technologies LP acquired a new position in shares of Chatham Lodging Trust in the fourth quarter valued at approximately $25,000. Lazard Asset Management LLC acquired a new position in Chatham Lodging Trust during the 4th quarter worth approximately $56,000. Quarry LP grew its holdings in 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Chatham Lodging Trust during the 4th quarter worth approximately $68,000. Finally, GAMMA Investing LLC grew its holdings in Chatham Lodging Trust by 565.4% during the 1st quarter. GAMMA Investing LLC now owns 9,568 shares of the real estate investment trust's stock worth $68,000 after acquiring an additional 8,130 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on CLDT. Stifel Nicolaus lowered 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 report on Wednesday, April 16th. Alliance Global Partners restated a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th.

Chatham Lodging Trust Stock Down 0.8%

CLDT stock opened at $7.05 on Tuesday. The company has a market cap of $345.31 million, a price-to-earnings ratio of 117.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. Chatham Lodging Trust has a 12 month low of $5.83 and a 12 month high of $10.00. The company has a fifty day moving average price of $7.13 and a 200 day moving average price of $7.50.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. The company had revenue of $68.64 million during the quarter, compared to the consensus estimate of $67.99 million. Chatham Lodging Trust had a net margin of 3.44% and a return on equity of 1.38%. Sell-side analysts expect that Chatham Lodging Trust will post 1.07 earnings per share for the current year.

Chatham Lodging Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Monday, June 30th. This is a boost from Chatham Lodging Trust's previous quarterly dividend of $0.02. This represents a $0.36 dividend on an annualized basis and a dividend yield of 5.11%. Chatham Lodging Trust's dividend payout ratio is 600.00%.

Chatham Lodging Trust announced that its Board of Directors has approved a share buyback 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 repurchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management 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.

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