Man Group plc acquired a new stake in Chatham Lodging Trust (NYSE:CLDT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 76,167 shares of the real estate investment trust's stock, valued at approximately $682,000. Man Group plc owned approximately 0.16% of Chatham Lodging Trust at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Donald Smith & CO. Inc. increased its position in shares of Chatham Lodging Trust by 30.7% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,497,679 shares of the real estate investment trust's stock valued at $40,254,000 after buying an additional 1,055,999 shares in the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Chatham Lodging Trust in the fourth quarter valued at $5,738,000. JPMorgan Chase & Co. increased its position in shares of Chatham Lodging Trust by 53.4% in the fourth quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust's stock valued at $8,685,000 after buying an additional 337,842 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Chatham Lodging Trust in the fourth quarter valued at $1,273,000. Finally, Barclays PLC increased its position in shares of Chatham Lodging Trust by 76.1% in the third quarter. Barclays PLC now owns 282,195 shares of the real estate investment trust's stock valued at $2,404,000 after buying an additional 121,920 shares in the last quarter. 88.37% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Wall Street Zen cut Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Stifel Nicolaus dropped their price objective on 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, Alliance Global Partners reiterated a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th.
Read Our Latest Research Report on Chatham Lodging Trust
Chatham Lodging Trust Stock Performance
Chatham Lodging Trust stock remained flat at $7.13 during midday trading on Wednesday. The company had a trading volume of 183,356 shares, compared to its average volume of 415,195. The firm has a market capitalization of $349.26 million, a P/E ratio of -31.00 and a beta of 1.42. The company's 50-day moving average is $6.95 and its 200-day moving average is $8.13. Chatham Lodging Trust has a 1 year low of $5.83 and a 1 year high of $10.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37.
Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last posted 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 firm had revenue of $68.64 million during the quarter, compared to analysts' expectations of $67.99 million. Chatham Lodging Trust had a negative return on equity of 0.39% and a negative net margin of 0.99%. On average, analysts forecast that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.
Chatham Lodging Trust announced that its board has initiated a share repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board 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 paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, March 31st. Chatham Lodging Trust's dividend payout ratio is currently 600.00%.
Chatham Lodging Trust Profile
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Free Report)
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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