Russell Investments Group Ltd. Trims Position in Chatham Lodging Trust (REIT) $CLDT

Key Points

• Russell Investments Group Ltd. has significantly reduced its stake in Chatham Lodging Trust (REIT), cutting its holdings by 48.3% to a total of 78,487 shares valued at $560,000.
• Chatham Lodging Trust recently announced a $25 million stock buyback program, indicating management's belief that the stock is undervalued, while also increasing its quarterly dividend to $0.09 per share.
• Chatham Lodging Trust has an average analyst rating of "Buy" from two analysts, with a consensus target price of $10.75 for the stock.

Russell Investments Group Ltd. decreased its position in Chatham Lodging Trust (REIT) (NYSE:CLDT - Free Report) by 48.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,487 shares of the real estate investment trust's stock after selling 73,285 shares during the quarter. Russell Investments Group Ltd. owned 0.16% of Chatham Lodging Trust worth $560,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. raised its position in Chatham Lodging Trust by 8.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 21,356 shares of the real estate investment trust's stock valued at $154,000 after purchasing an additional 1,698 shares during the period. Nuveen LLC purchased a new stake in shares of Chatham Lodging Trust during the first quarter worth $1,406,000. Donald Smith & CO. Inc. increased its position in shares of Chatham Lodging Trust by 9.3% during the first quarter. Donald Smith & CO. Inc. now owns 4,916,914 shares of the real estate investment trust's stock worth $35,058,000 after acquiring an additional 419,235 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Chatham Lodging Trust by 2.6% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,604 shares of the real estate investment trust's stock worth $425,000 after acquiring an additional 1,489 shares during the period. Finally, GSA Capital Partners LLP increased its position in shares of Chatham Lodging Trust by 39.0% during the first quarter. GSA Capital Partners LLP now owns 283,227 shares of the real estate investment trust's stock worth $2,019,000 after acquiring an additional 79,402 shares during the period. Hedge funds and other institutional investors own 88.37% of the company's stock.

Chatham Lodging Trust Stock Down 1.6%

Shares of Chatham Lodging Trust stock traded down $0.12 during trading hours on Friday, reaching $7.41. 167,047 shares of the company were exchanged, compared to its average volume of 259,813. Chatham Lodging Trust has a 1 year low of $5.83 and a 1 year high of $10.00. The stock's fifty day moving average is $7.20 and its 200 day moving average is $7.22. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $362.84 million, a PE ratio of 246.93 and a beta of 1.39.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. The business had revenue of $80.29 million for the quarter, compared to analyst estimates 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 research analysts forecast that Chatham Lodging Trust will post 1.07 earnings per share for the current year.

About Chatham Lodging Trust

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.