Chatham Lodging Trust (NYSE:CLDT) Stock Holdings Lifted by Northern Trust Corp

Northern Trust Corp boosted its holdings in shares of Chatham Lodging Trust (NYSE:CLDT) by 8.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 506,353 shares of the real estate investment trust’s stock after buying an additional 37,574 shares during the period. Northern Trust Corp owned approximately 1.04% of Chatham Lodging Trust worth $4,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new position in shares of Chatham Lodging Trust in the fourth quarter worth $25,000. Quarry LP increased its position in 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 purchasing an additional 1,423 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Chatham Lodging Trust during the 4th quarter worth about $68,000. Ballentine Partners LLC acquired a new stake in shares of Chatham Lodging Trust during the 4th quarter valued at about $102,000. Finally, Intech Investment Management LLC bought a new stake in shares of Chatham Lodging Trust in the 4th quarter valued at approximately $155,000. Institutional investors and hedge funds own 88.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CLDT. Alliance Global Partners reaffirmed a “buy” rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th. StockNews.com downgraded shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Stifel Nicolaus reduced their price objective on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating for the company in a research note on Wednesday, April 16th.

Chatham Lodging Trust Stock Performance

CLDT opened at $6.90 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $338.04 million, a PE ratio of -30.00 and a beta of 1.42. The stock has a 50-day moving average of $7.00 and a 200-day moving average of $8.17. Chatham Lodging Trust has a 52-week low of $5.83 and a 52-week high of $10.00.

Chatham Lodging Trust (NYSE:CLDT) last posted its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. Chatham Lodging Trust had a negative return on equity of 0.39% and a negative net margin of 0.99%. The firm had revenue of $68.64 million during the quarter, compared to analyst estimates of $67.99 million. As a group, equities research analysts forecast that Chatham Lodging Trust will post 1.07 earnings per share for the current fiscal year.

Chatham Lodging Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, March 31st. Chatham Lodging Trust’s dividend payout ratio is currently 600.00%.

Chatham Lodging Trust declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 6th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the real estate investment trust to buy up to 7.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is 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.