Nuveen Asset Management LLC boosted its position in Chatham Lodging Trust (NYSE:CLDT - Free Report) by 36.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 210,767 shares of the real estate investment trust's stock after purchasing an additional 55,770 shares during the quarter. Nuveen Asset Management LLC owned about 0.43% of Chatham Lodging Trust worth $1,886,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of CLDT. Quantbot Technologies LP bought a new stake in Chatham Lodging Trust during the fourth quarter worth approximately $25,000. Lazard Asset Management LLC bought a new position in Chatham Lodging Trust during the fourth quarter worth about $56,000. Quarry LP lifted its stake in Chatham Lodging Trust by 23.5% in the 4th quarter. Quarry LP now owns 7,487 shares of the real estate investment trust's stock valued at $67,000 after acquiring an additional 1,423 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Chatham Lodging Trust during the 4th quarter worth approximately $68,000. Finally, Intech Investment Management LLC acquired a new position in shares of Chatham Lodging Trust during the 4th quarter worth approximately $155,000. 88.37% of the stock is owned by institutional investors and hedge funds.
Chatham Lodging Trust Price Performance
NYSE CLDT traded up $0.15 on Friday, hitting $7.15. The company had a trading volume of 186,042 shares, compared to its average volume of 411,091. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96. Chatham Lodging Trust has a 12-month low of $5.83 and a 12-month high of $10.00. The company's fifty day moving average price is $6.92 and its 200-day moving average price is $8.03. The company has a market capitalization of $349.99 million, a PE ratio of -31.06 and a beta of 1.44.
Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $68.64 million for the quarter, compared to analysts' expectations of $67.99 million. As a group, analysts predict that Chatham Lodging Trust will post 1.07 earnings per share for the current year.
Chatham Lodging Trust announced that its Board of Directors has approved a stock buyback 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 reacquire up to 7.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.
Chatham Lodging Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.36 annualized dividend and a yield of 5.04%. This is a boost from Chatham Lodging Trust's previous quarterly dividend of $0.02. Chatham Lodging Trust's dividend payout ratio (DPR) is currently 600.00%.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. 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 report on Wednesday, April 16th. Wall Street Zen lowered shares of Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Finally, Alliance Global Partners reaffirmed a "buy" rating on shares of Chatham Lodging Trust in a research note on Tuesday, May 6th.
Check Out Our Latest Analysis on CLDT
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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