Peapod Lane Capital LLC Acquires New Stake in Chatham Lodging Trust (REIT) (NYSE:CLDT)

Peapod Lane Capital LLC bought a new position in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 186,356 shares of the real estate investment trust's stock, valued at approximately $1,329,000. Chatham Lodging Trust accounts for about 1.5% of Peapod Lane Capital LLC's investment portfolio, making the stock its 27th largest position. Peapod Lane Capital LLC owned approximately 0.38% of Chatham Lodging Trust at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in shares of Chatham Lodging Trust in the fourth quarter valued at approximately $25,000. Lazard Asset Management LLC bought a new position in shares of Chatham Lodging Trust in the fourth quarter valued at approximately $56,000. Quarry LP lifted its holdings in shares of Chatham Lodging Trust by 23.5% in the fourth quarter. Quarry LP now owns 7,487 shares of the real estate investment trust's stock valued at $67,000 after purchasing an additional 1,423 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Chatham Lodging Trust in the fourth quarter valued at approximately $68,000. Finally, GAMMA Investing LLC lifted its holdings 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 valued at $68,000 after purchasing an additional 8,130 shares in the last quarter. Institutional investors and hedge funds own 88.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CLDT. Alliance Global Partners reaffirmed a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th. Wall Street Zen downgraded Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Finally, Stifel Nicolaus decreased their target price 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.

Chatham Lodging Trust Stock Performance

NYSE:CLDT traded up $0.19 during trading hours on Thursday, reaching $7.40. The stock had a trading volume of 220,652 shares, compared to its average volume of 335,013. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day simple moving average of $7.11 and a 200 day simple moving average of $7.67. Chatham Lodging Trust has a 12-month low of $5.83 and a 12-month high of $10.00. The stock has a market cap of $362.45 million, a P/E ratio of 123.33 and a beta of 1.43.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last released its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Chatham Lodging Trust had a return on equity of 1.38% and a net margin of 3.44%. The business had revenue of $68.64 million during the quarter, compared to the consensus estimate of $67.99 million. On average, research analysts forecast that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.

Chatham Lodging Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.09 dividend. The ex-dividend date of this dividend is Monday, June 30th. This is a boost from Chatham Lodging Trust's previous quarterly dividend of $0.02. This represents a $0.36 annualized dividend and a dividend yield of 4.86%. Chatham Lodging Trust's payout ratio is 600.00%.

Chatham Lodging Trust declared that its Board of Directors has authorized a stock buyback 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 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.