Peapod Lane Capital LLC Acquires Shares of 186,356 Chatham Lodging Trust (REIT) (NYSE:CLDT)

Peapod Lane Capital LLC acquired a new stake in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 186,356 shares of the real estate investment trust's stock, valued at approximately $1,329,000. Chatham Lodging Trust comprises 1.5% of Peapod Lane Capital LLC's portfolio, making the stock its 27th largest holding. Peapod Lane Capital LLC owned approximately 0.38% of Chatham Lodging Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in CLDT. Proficio Capital Partners LLC bought a new position in shares of Chatham Lodging Trust in the fourth quarter worth about $244,000. Raymond James Financial Inc. purchased a new stake in shares of Chatham Lodging Trust during the fourth quarter valued at about $233,000. AlphaQuest LLC lifted its position in shares of Chatham Lodging Trust by 127.1% during the fourth quarter. AlphaQuest LLC now owns 59,549 shares of the real estate investment trust's stock valued at $533,000 after buying an additional 33,331 shares during the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of Chatham Lodging Trust during the fourth quarter valued at about $1,273,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Chatham Lodging Trust during the fourth quarter valued at about $155,000. 88.37% of the stock is currently owned by institutional investors.

Chatham Lodging Trust Stock Performance

CLDT opened at $7.23 on Thursday. Chatham Lodging Trust has a 52-week low of $5.83 and a 52-week high of $10.00. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a market cap of $354.13 million, a P/E ratio of 120.50 and a beta of 1.43. The firm's 50-day moving average price is $7.11 and its 200-day moving average price is $7.67.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Chatham Lodging Trust had a net margin of 3.44% and a return on equity of 1.38%. The firm had revenue of $68.64 million for the quarter, compared to the consensus estimate of $67.99 million. As a group, equities analysts anticipate that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.

Chatham Lodging Trust declared that its Board of Directors has authorized a stock buyback program 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 buy up to 7.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Chatham Lodging Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.09 per share. The ex-dividend date is Monday, June 30th. This represents a $0.36 annualized dividend and a dividend yield of 4.98%. This is an increase from Chatham Lodging Trust's previous quarterly dividend of $0.02. Chatham Lodging Trust's dividend payout ratio is 600.00%.

Analyst Upgrades and Downgrades

CLDT has been the subject of several analyst reports. Stifel Nicolaus decreased 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 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 reissued a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th.

Chatham Lodging Trust 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.