Belpointe Asset Management LLC Lowers Holdings in Chatham Lodging Trust (REIT) $CLDT

Belpointe Asset Management LLC trimmed its position in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,327 shares of the real estate investment trust’s stock after selling 1,794 shares during the period. Belpointe Asset Management LLC owned approximately 0.07% of Chatham Lodging Trust worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of CLDT. GAMMA Investing LLC raised its holdings 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. Diversified Trust Co purchased a new stake in shares of Chatham Lodging Trust during the 1st quarter worth approximately $106,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Chatham Lodging Trust by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,119 shares of the real estate investment trust’s stock worth $400,000 after acquiring an additional 19,679 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Chatham Lodging Trust by 13.4% during the 1st quarter. Bank of New York Mellon Corp now owns 205,901 shares of the real estate investment trust’s stock worth $1,468,000 after acquiring an additional 24,278 shares in the last quarter. Finally, Peapod Lane Capital LLC purchased a new stake in shares of Chatham Lodging Trust during the 1st quarter worth approximately $1,329,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Chatham Lodging Trust from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.75.

Chatham Lodging Trust Stock Performance

NYSE:CLDT opened at $6.22 on Friday. The stock’s fifty day moving average is $7.07 and its 200 day moving average is $7.03. Chatham Lodging Trust has a fifty-two week low of $5.83 and a fifty-two week high of $10.00. The firm has a market capitalization of $304.66 million, a PE ratio of 207.33 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.07.

Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings results on Wednesday, August 6th. The real estate investment trust reported $0.36 earnings per share 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 company had revenue of $80.29 million for the quarter, compared to analyst estimates of $79.67 million. On average, sell-side analysts anticipate that Chatham Lodging Trust will post 1.07 earnings per share for the current year.

Chatham Lodging Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 5.8%. The ex-dividend date is Tuesday, September 30th. Chatham Lodging Trust’s dividend payout ratio is presently 1,200.00%.

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.