Allianz Asset Management GmbH Invests $204,000 in Chatham Lodging Trust (REIT) (NYSE:CLDT)

Allianz Asset Management GmbH purchased a new position in Chatham Lodging Trust (REIT) (NYSE:CLDT) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 28,626 shares of the real estate investment trust’s stock, valued at approximately $204,000. Allianz Asset Management GmbH owned approximately 0.06% of Chatham Lodging Trust at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Adage Capital Partners GP L.L.C. purchased a new position in Chatham Lodging Trust in the fourth quarter worth about $5,738,000. JPMorgan Chase & Co. increased 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 acquiring an additional 337,842 shares in the last quarter. Peapod Lane Capital LLC bought a new stake in shares of Chatham Lodging Trust during the first quarter valued at approximately $1,329,000. Two Sigma Investments LP raised its holdings in Chatham Lodging Trust by 39.7% in the 4th quarter. Two Sigma Investments LP now owns 428,322 shares of the real estate investment trust’s stock worth $3,833,000 after acquiring an additional 121,749 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its position in Chatham Lodging Trust by 79.6% in the 4th quarter. Tudor Investment Corp ET AL now owns 261,047 shares of the real estate investment trust’s stock valued at $2,336,000 after acquiring an additional 115,683 shares in the last quarter. 88.37% of the stock is owned by hedge funds and other institutional investors.

Chatham Lodging Trust Stock Performance

Shares of CLDT stock opened at $6.68 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average price of $7.11 and a 200-day moving average price of $7.43. Chatham Lodging Trust has a 52 week low of $5.83 and a 52 week high of $10.00. The firm has a market capitalization of $327.19 million, a PE ratio of 111.33 and a beta of 1.50.

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, topping the consensus estimate of $0.13 by $0.01. The company had revenue of $68.64 million for the quarter, compared to analysts’ expectations of $67.99 million. Chatham Lodging Trust had a net margin of 3.44% and a return on equity of 1.38%. As a group, equities research analysts expect that Chatham Lodging Trust will post 1.07 earnings per share for the current year.

Chatham Lodging Trust declared that its board has authorized a share repurchase 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 reacquire up to 7.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Chatham Lodging Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.09 dividend. The ex-dividend date of this dividend was Monday, June 30th. This is an increase from Chatham Lodging Trust’s previous quarterly dividend of $0.02. This represents a $0.36 annualized dividend and a dividend yield of 5.4%. Chatham Lodging Trust’s dividend payout ratio is presently 600.00%.

Wall Street Analysts Forecast Growth

CLDT has been the topic of several recent analyst reports. Alliance Global Partners reiterated a “buy” rating on shares of Chatham Lodging Trust in a research note on Tuesday, May 6th. Stifel Nicolaus lowered their price target on Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating on the stock in a report on Wednesday, April 16th.

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.