Chatham Lodging Trust (REIT) $CLDT Stock Position Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) by 5.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,051 shares of the real estate investment trust’s stock after selling 3,068 shares during the period. Allspring Global Investments Holdings LLC owned 0.11% of Chatham Lodging Trust worth $370,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Diversified Trust Co boosted its position in shares of Chatham Lodging Trust by 60.0% during the second quarter. Diversified Trust Co now owns 23,812 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 8,934 shares during the period. Nuveen LLC acquired a new position in Chatham Lodging Trust during the 1st quarter worth $1,406,000. Peapod Lane Capital LLC bought a new position in shares of Chatham Lodging Trust in the first quarter worth $1,329,000. Allianz Asset Management GmbH bought a new position in shares of Chatham Lodging Trust in the first quarter worth $204,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Chatham Lodging Trust by 13.4% during the first quarter. Bank of New York Mellon Corp now owns 205,901 shares of the real estate investment trust’s stock valued at $1,468,000 after purchasing an additional 24,278 shares during the period. Institutional investors and hedge funds own 88.37% of the company’s stock.

Chatham Lodging Trust Stock Up 0.5%

Shares of Chatham Lodging Trust stock opened at $6.57 on Friday. Chatham Lodging Trust has a 12-month low of $5.83 and a 12-month high of $10.00. The firm has a market capitalization of $321.79 million, a PE ratio of 219.00 and a beta of 1.44. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.27. The stock’s fifty day moving average is $6.96 and its 200-day moving average is $7.01.

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 for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $80.29 million for the quarter, compared to analysts’ expectations of $79.67 million. Equities analysts anticipate that Chatham Lodging Trust will post 1.07 earnings per share for the current year.

Chatham Lodging Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Tuesday, September 30th. Chatham Lodging Trust’s dividend payout ratio is 1,200.00%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Chatham Lodging Trust from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.75.

About Chatham Lodging Trust

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.