Chatham Lodging Trust (REIT) (NYSE:CLDT) Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC reduced its stake in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) by 20.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,558 shares of the real estate investment trust’s stock after selling 2,773 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Chatham Lodging Trust were worth $76,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of Chatham Lodging Trust in the fourth quarter valued at about $25,000. Lazard Asset Management LLC purchased a new position in shares of Chatham Lodging Trust in the 4th quarter valued at about $56,000. Quarry LP grew its holdings in Chatham Lodging Trust by 23.5% during 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 in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Chatham Lodging Trust during the fourth quarter worth $68,000. Finally, GAMMA Investing LLC boosted its position in shares of Chatham Lodging Trust by 565.4% during 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 in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on CLDT shares. Stifel Nicolaus reduced their price target on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Wall Street Zen lowered Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Finally, Alliance Global Partners reissued a “buy” rating on shares of Chatham Lodging Trust in a research note on Tuesday, May 6th.

Chatham Lodging Trust Trading Down 0.4%

NYSE CLDT opened at $7.05 on Friday. The stock has a market cap of $345.34 million, a P/E ratio of 117.50 and a beta of 1.43. The company’s fifty day simple moving average is $7.14 and its 200-day simple moving average is $7.58. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. 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 issued its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. Chatham Lodging Trust had a net margin of 3.44% and a return on equity of 1.38%. The business had revenue of $68.64 million for the quarter, compared to analyst estimates of $67.99 million. Equities research analysts predict that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.

Chatham Lodging Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a $0.09 dividend. 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 5.11%. Chatham Lodging Trust’s dividend payout ratio is 600.00%.

Chatham Lodging Trust declared that its board has authorized a stock repurchase plan on Tuesday, May 6th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows 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.

Chatham Lodging Trust 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.