Nuveen Asset Management LLC Has $1.89 Million Position in Chatham Lodging Trust (NYSE:CLDT)

Nuveen Asset Management LLC grew its holdings in Chatham Lodging Trust (NYSE:CLDT) by 36.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 210,767 shares of the real estate investment trust’s stock after purchasing an additional 55,770 shares during the quarter. Nuveen Asset Management LLC owned about 0.43% of Chatham Lodging Trust worth $1,886,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in Chatham Lodging Trust during the fourth quarter worth about $25,000. Lazard Asset Management LLC acquired a new stake in Chatham Lodging Trust during the fourth quarter worth about $56,000. Quarry LP grew its position in Chatham Lodging Trust by 23.5% during the fourth quarter. Quarry LP now owns 7,487 shares of the real estate investment trust’s stock worth $67,000 after buying an additional 1,423 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Chatham Lodging Trust during the fourth quarter worth about $68,000. Finally, Intech Investment Management LLC acquired a new stake in Chatham Lodging Trust during the fourth quarter worth about $155,000. 88.37% of the stock is owned by institutional investors and hedge funds.

Chatham Lodging Trust Stock Up 1.1%

NYSE CLDT opened at $7.19 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.37. The stock’s 50 day moving average is $6.92 and its two-hundred day moving average is $8.06. The company has a market capitalization of $351.95 million, a price-to-earnings ratio of -31.24 and a beta of 1.42. Chatham Lodging Trust has a 1-year low of $5.83 and a 1-year high of $10.00.

Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings data on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $68.64 million for the quarter, compared to the consensus estimate of $67.99 million. Chatham Lodging Trust had a negative return on equity of 0.39% and a negative net margin of 0.99%. Equities analysts forecast that Chatham Lodging Trust will post 1.07 earnings per share for the current fiscal year.

Chatham Lodging Trust announced that its board has authorized a share repurchase plan on Tuesday, May 6th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to purchase up to 7.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus decreased their target price on Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Wall Street Zen downgraded Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Chatham Lodging Trust in a report on Tuesday, May 6th.

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.