Bank of New York Mellon Corp Has $1.47 Million Holdings in Chatham Lodging Trust (REIT) (NYSE:CLDT)

Bank of New York Mellon Corp lifted its stake in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) by 13.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 205,901 shares of the real estate investment trust’s stock after buying an additional 24,278 shares during the period. Bank of New York Mellon Corp owned about 0.42% of Chatham Lodging Trust worth $1,468,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CLDT. Donald Smith & CO. Inc. boosted its position in shares of 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 buying an additional 1,055,999 shares during the last quarter. Adage Capital Partners GP L.L.C. purchased a new position in shares of Chatham Lodging Trust during the fourth quarter valued at approximately $5,738,000. JPMorgan Chase & Co. boosted its position in shares of Chatham Lodging Trust by 53.4% during the fourth 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 during the last quarter. Two Sigma Investments LP boosted its position in shares of Chatham Lodging Trust by 39.7% during the fourth quarter. Two Sigma Investments LP now owns 428,322 shares of the real estate investment trust’s stock valued at $3,833,000 after buying an additional 121,749 shares during the last quarter. Finally, Tudor Investment Corp ET AL boosted its position in Chatham Lodging Trust by 79.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 261,047 shares of the real estate investment trust’s stock worth $2,336,000 after purchasing an additional 115,683 shares during the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Analyst Upgrades and Downgrades

CLDT has been the topic of several research analyst reports. Stifel Nicolaus cut their price objective 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. Alliance Global Partners reissued a “buy” rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th.

Chatham Lodging Trust Stock Down 2.6%

CLDT stock opened at $6.76 on Thursday. The stock’s fifty day simple moving average is $7.13 and its two-hundred day simple moving average is $7.50. 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 1-year low of $5.83 and a 1-year high of $10.00. The stock has a market cap of $331.10 million, a P/E ratio of 112.67 and a beta of 1.43.

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 the consensus estimate of $0.13 by $0.01. The firm had revenue of $68.64 million for the quarter, compared to analyst estimates of $67.99 million. Chatham Lodging Trust had a return on equity of 1.38% and a net margin of 3.44%. Analysts expect that Chatham Lodging Trust will post 1.07 EPS for the current year.

Chatham Lodging Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.09 dividend. The ex-dividend date was Monday, June 30th. This is a positive change from Chatham Lodging Trust’s previous quarterly dividend of $0.02. This represents a $0.36 annualized dividend and a dividend yield of 5.33%. Chatham Lodging Trust’s payout ratio is presently 600.00%.

Chatham Lodging Trust announced that its Board of Directors has initiated a stock buyback plan 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 purchase up to 7.2% of its stock through open market purchases. Stock repurchase plans are usually an indication 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.