Chatham Lodging Trust (REIT) $CLDT Position Reduced by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its stake in Chatham Lodging Trust by 3.3%, selling 174,322 shares to hold a total of 5,169,935 shares worth approximately $36.86 million.
• Chatham Lodging Trust reported a quarterly earnings per share of $0.36, exceeding analysts' expectations, along with a revenue of $80.29 million.
• The company recently announced a $25 million share repurchase program and increased its quarterly dividend from $0.02 to $0.09 per share, reflecting confidence in its valuation.

Vanguard Group Inc. lessened its position in Chatham Lodging Trust (REIT) (NYSE:CLDT - Free Report) by 3.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,169,935 shares of the real estate investment trust's stock after selling 174,322 shares during the period. Vanguard Group Inc. owned approximately 10.55% of Chatham Lodging Trust worth $36,862,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC acquired a new stake in shares of Chatham Lodging Trust in the 4th quarter worth about $56,000. Quarry LP increased its holdings in shares of 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 worth $67,000 after acquiring an additional 1,423 shares during the period. GAMMA Investing LLC increased its holdings in shares of Chatham Lodging Trust by 565.4% in the 1st quarter. GAMMA Investing LLC now owns 9,568 shares of the real estate investment trust's stock worth $68,000 after acquiring an additional 8,130 shares during the period. Quantinno Capital Management LP acquired a new stake in shares of Chatham Lodging Trust in the 4th quarter worth about $94,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Chatham Lodging Trust in the 4th quarter worth about $121,000. Institutional investors and hedge funds own 88.37% of the company's stock.

Chatham Lodging Trust Price Performance

Shares of NYSE:CLDT traded down $0.01 during trading hours on Friday, hitting $7.63. 654,191 shares of the company's stock traded hands, compared to its average volume of 243,737. Chatham Lodging Trust has a 52 week low of $5.83 and a 52 week high of $10.00. 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 company's fifty day simple moving average is $7.16 and its two-hundred day simple moving average is $7.24. The company has a market cap of $373.71 million, a price-to-earnings ratio of 254.33 and a beta of 1.50.

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, beating the consensus estimate of $0.34 by $0.02. Chatham Lodging Trust had a net margin of 3.04% and a return on equity of 1.19%. The company had revenue of $80.29 million during the quarter, compared to analyst estimates of $79.67 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 has authorized a stock buyback plan on Tuesday, May 6th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the real estate investment trust to buy up to 7.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Chatham Lodging Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.09 per share. This is a positive change from Chatham Lodging Trust's previous quarterly dividend of $0.02. The ex-dividend date was Monday, June 30th. This represents a $0.36 annualized dividend and a dividend yield of 4.7%. Chatham Lodging Trust's payout ratio is 1,200.00%.

Analysts Set New Price Targets

Separately, Alliance Global Partners reiterated a "buy" rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $10.75.

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.