Nuveen LLC Invests $1.41 Million in Chatham Lodging Trust (REIT) $CLDT

Nuveen LLC acquired a new position in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 197,225 shares of the real estate investment trust’s stock, valued at approximately $1,406,000. Nuveen LLC owned 0.40% of Chatham Lodging Trust as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Chatham Lodging Trust during the fourth quarter worth approximately $56,000. GAMMA Investing LLC boosted its holdings in shares of Chatham Lodging Trust by 565.4% during the first 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 during the period. Quantinno Capital Management LP bought a new stake in shares of Chatham Lodging Trust during the fourth quarter worth approximately $94,000. ProShare Advisors LLC bought a new stake in shares of Chatham Lodging Trust during the fourth quarter worth approximately $121,000. Finally, Diversified Trust Co bought a new stake in shares of Chatham Lodging Trust in the first quarter valued at approximately $106,000. Institutional investors own 88.37% of the company’s stock.

Chatham Lodging Trust Trading Down 0.1%

Shares of CLDT stock opened at $7.63 on Monday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The stock has a market cap of $373.72 million, a P/E ratio of 254.33 and a beta of 1.39. The stock has a 50 day simple moving average of $7.16 and a 200 day simple moving average of $7.23. 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 issued its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. Chatham Lodging Trust had a return on equity of 1.19% and a net margin of 3.04%.The business had revenue of $80.29 million during the quarter, compared to analysts’ expectations of $79.67 million. On average, research analysts predict 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 stock repurchase program on Tuesday, May 6th that allows the company to buyback $25.00 million in shares. This buyback authorization allows the real estate investment trust to repurchase up to 7.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Chatham Lodging Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.09 per share. The ex-dividend date was Monday, June 30th. This is a boost from Chatham Lodging Trust’s previous quarterly dividend of $0.02. This represents a $0.36 annualized dividend and a yield of 4.7%. Chatham Lodging Trust’s dividend payout ratio is currently 1,200.00%.

Analysts Set New Price Targets

Separately, Alliance Global Partners reiterated a “buy” rating on shares of Chatham Lodging Trust in a research note on Tuesday, May 6th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $10.75.

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.