Man Group plc purchased a new position in shares of Chatham Lodging Trust (NYSE:CLDT - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 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 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Donald Smith & CO. Inc. lifted its position in shares of Chatham Lodging Trust by 30.7% during the 4th 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 acquiring an additional 1,055,999 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in Chatham Lodging Trust in the fourth quarter valued at approximately $5,738,000. JPMorgan Chase & Co. raised its stake in shares of Chatham Lodging Trust by 53.4% in the 4th quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust's stock valued at $8,685,000 after acquiring an additional 337,842 shares in the last quarter. Thrivent Financial for Lutherans bought a new stake in Chatham Lodging Trust during the fourth quarter valued at about $1,273,000. Finally, Barclays PLC raised its stake in Chatham Lodging Trust by 76.1% during the 3rd quarter. Barclays PLC now owns 282,195 shares of the real estate investment trust's stock valued at $2,404,000 after purchasing an additional 121,920 shares during the last quarter. 88.37% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
CLDT has been the topic of several research analyst reports. Stifel Nicolaus decreased their target price on Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen cut 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 report on Tuesday, May 6th.
Read Our Latest Analysis on CLDT
Chatham Lodging Trust Trading Up 1.2%
Shares of CLDT stock traded up $0.09 during trading hours on Friday, hitting $7.27. 33,090 shares of the company were exchanged, compared to its average volume of 340,742. The company has a 50 day simple moving average of $6.93 and a two-hundred day simple moving average of $8.11. The firm has a market cap of $355.87 million, a P/E ratio of -31.59 and a beta of 1.42. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 0.96. Chatham Lodging Trust has a fifty-two week low of $5.83 and a fifty-two week high of $10.00.
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 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. Chatham Lodging Trust had a negative net margin of 0.99% and a negative return on equity of 0.39%. The firm had revenue of $68.64 million for the quarter, compared to analyst estimates of $67.99 million. Equities analysts anticipate that Chatham Lodging Trust will post 1.07 EPS for the current year.
Chatham Lodging Trust Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.02 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.08 annualized dividend and a yield of 1.10%. Chatham Lodging Trust's dividend payout ratio (DPR) is 600.00%.
Chatham Lodging Trust announced that its Board of Directors has authorized a share repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 7.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.
About Chatham Lodging Trust
(
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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