Advisors Asset Management Inc. grew its holdings in Chatham Lodging Trust (NYSE:CLDT) by 234.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,269 shares of the real estate investment trust’s stock after purchasing an additional 35,927 shares during the period. Advisors Asset Management Inc.’s holdings in Chatham Lodging Trust were worth $1,088,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of CLDT. Assetmark Inc. grew its stake in shares of Chatham Lodging Trust by 137.2% in the 2nd quarter. Assetmark Inc. now owns 5,296 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 3,063 shares in the last quarter. OppenheimerFunds Inc. bought a new stake in shares of Chatham Lodging Trust in the 2nd quarter valued at approximately $205,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Chatham Lodging Trust in the 2nd quarter valued at approximately $206,000. Piedmont Investment Advisors LLC bought a new stake in shares of Chatham Lodging Trust in the 2nd quarter valued at approximately $227,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of Chatham Lodging Trust in the 1st quarter valued at approximately $237,000. Institutional investors own 82.52% of the company’s stock.
Several equities research analysts recently commented on the company. Zacks Investment Research cut Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research note on Friday. Stifel Nicolaus reissued a “hold” rating and issued a $20.00 price target on shares of Chatham Lodging Trust in a research note on Wednesday, August 1st. TheStreet raised Chatham Lodging Trust from a “c+” rating to a “b-” rating in a research note on Thursday, July 12th. ValuEngine raised Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, B. Riley upped their target price on Chatham Lodging Trust from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $21.20.
Shares of Chatham Lodging Trust stock opened at $19.59 on Friday. The company has a market cap of $903.82 million, a price-to-earnings ratio of 9.15 and a beta of 1.15. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.37 and a quick ratio of 1.37. Chatham Lodging Trust has a 12-month low of $17.90 and a 12-month high of $23.91.
Chatham Lodging Trust (NYSE:CLDT) last announced its earnings results on Wednesday, October 31st. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The firm had revenue of $90.23 million during the quarter, compared to analysts’ expectations of $87.42 million. Chatham Lodging Trust had a return on equity of 4.61% and a net margin of 11.54%. As a group, equities analysts predict that Chatham Lodging Trust will post 1.91 EPS for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, October 31st will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $1.32 dividend on an annualized basis and a yield of 6.74%. Chatham Lodging Trust’s payout ratio is currently 61.68%.
About Chatham Lodging Trust
Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 135 hotels totaling 18,518 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,020 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,498 rooms/suites.
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