Panagora Asset Management Inc. Acquires 40,685 Shares of Chatham Lodging Trust (REIT) $CLDT

Key Points

• Panagora Asset Management Inc. increased its stake in Chatham Lodging Trust by 16.7%, now owning approximately 0.58% of the REIT valued at $2,023,000 after acquiring an additional 40,685 shares.
• Chatham Lodging Trust is set to buy back up to $25.00 million in shares, indicating the board's belief that its stock is undervalued.
• The company reported $0.36 earnings per share for the most recent quarter, surpassing analysts' expectations of $0.34, with revenue reaching $80.29 million.

Panagora Asset Management Inc. grew its stake in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT - Free Report) by 16.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 283,712 shares of the real estate investment trust's stock after acquiring an additional 40,685 shares during the period. Panagora Asset Management Inc. owned 0.58% of Chatham Lodging Trust worth $2,023,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CLDT. State of Wyoming purchased a new stake in shares of Chatham Lodging Trust during the first quarter worth $47,000. Lazard Asset Management LLC purchased a new stake in shares of Chatham Lodging Trust in the fourth quarter worth $56,000. GAMMA Investing LLC raised its position 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 worth $68,000 after buying an additional 8,130 shares in the last quarter. Quantinno Capital Management LP purchased a new stake in shares of Chatham Lodging Trust in the fourth quarter worth $94,000. Finally, Diversified Trust Co purchased a new stake in shares of Chatham Lodging Trust in the first quarter worth $106,000. Hedge funds and other institutional investors own 88.37% of the company's stock.

Chatham Lodging Trust Price Performance

Shares of CLDT stock traded down $0.12 on Friday, reaching $7.41. The company's stock had a trading volume of 167,047 shares, compared to its average volume of 259,813. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. Chatham Lodging Trust has a 12-month low of $5.83 and a 12-month high of $10.00. The company has a market capitalization of $362.84 million, a P/E ratio of 246.93 and a beta of 1.39. The stock's 50 day simple moving average is $7.20 and its 200-day simple moving average is $7.21.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last released its earnings results on Wednesday, August 6th. The real estate investment trust reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. The business had revenue of $80.29 million for the quarter, compared to analysts' expectations of $79.67 million. Chatham Lodging Trust had a return on equity of 1.19% and a net margin of 3.04%. As a group, equities analysts predict that Chatham Lodging Trust will post 1.07 earnings per share for the current fiscal year.

Chatham Lodging Trust Company Profile

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.