ProShare Advisors LLC Invests $121,000 in Chatham Lodging Trust (NYSE:CLDT)

ProShare Advisors LLC acquired a new position in Chatham Lodging Trust (NYSE:CLDT) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 13,563 shares of the real estate investment trust’s stock, valued at approximately $121,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Donald Smith & CO. Inc. lifted its position in Chatham Lodging Trust by 30.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,497,679 shares of the real estate investment trust’s stock valued at $40,254,000 after purchasing an additional 1,055,999 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Chatham Lodging Trust in the fourth quarter worth about $5,738,000. JPMorgan Chase & Co. lifted its position in shares of Chatham Lodging Trust by 53.4% during the 4th quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust’s stock valued at $8,685,000 after buying an additional 337,842 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in shares of Chatham Lodging Trust during the 4th quarter valued at approximately $1,273,000. Finally, Barclays PLC increased its holdings in Chatham Lodging Trust by 76.1% in the 3rd quarter. Barclays PLC now owns 282,195 shares of the real estate investment trust’s stock worth $2,404,000 after acquiring an additional 121,920 shares in the last quarter. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CLDT. Stifel Nicolaus lowered their price target on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Wall Street Zen downgraded shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Finally, Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a research note on Tuesday, May 6th.

Chatham Lodging Trust Stock Performance

NYSE CLDT opened at $7.12 on Tuesday. The firm has a market cap of $348.52 million, a price-to-earnings ratio of -30.93 and a beta of 1.42. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. The business has a 50-day moving average price of $6.92 and a 200-day moving average price of $8.07. Chatham Lodging Trust has a twelve month low of $5.83 and a twelve month high of $10.00.

Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $68.64 million for the quarter, compared to analysts’ expectations of $67.99 million. As a group, equities research analysts predict that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.

Chatham Lodging Trust announced that its Board of Directors has initiated a share repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board 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.