Diversified Trust Co Acquires New Position in Chatham Lodging Trust (REIT) (NYSE:CLDT)

Diversified Trust Co acquired a new stake in Chatham Lodging Trust (REIT) (NYSE:CLDT) in the 1st quarter, Holdings Channel reports. The fund acquired 14,878 shares of the real estate investment trust’s stock, valued at approximately $106,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Barclays PLC raised its position in Chatham Lodging Trust by 15.7% during the 4th quarter. Barclays PLC now owns 326,530 shares of the real estate investment trust’s stock worth $2,922,000 after buying an additional 44,335 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Chatham Lodging Trust during the 4th quarter worth approximately $244,000. Northern Trust Corp raised its position in Chatham Lodging Trust by 8.0% during the 4th quarter. Northern Trust Corp now owns 506,353 shares of the real estate investment trust’s stock worth $4,532,000 after buying an additional 37,574 shares during the last quarter. Bank of America Corp DE raised its position in Chatham Lodging Trust by 9.5% during the 4th quarter. Bank of America Corp DE now owns 682,486 shares of the real estate investment trust’s stock worth $6,108,000 after buying an additional 58,943 shares during the last quarter. Finally, Man Group plc purchased a new position in Chatham Lodging Trust during the 4th quarter worth approximately $682,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CLDT shares. Stifel Nicolaus reduced their price target on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Alliance Global Partners reaffirmed a “buy” rating on shares of Chatham Lodging Trust in a report on Tuesday, May 6th. Finally, Wall Street Zen lowered shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th.

Chatham Lodging Trust Price Performance

NYSE:CLDT opened at $7.27 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $356.08 million, a price-to-earnings ratio of 121.17 and a beta of 1.43. The company has a 50 day moving average price of $7.09 and a 200-day moving average price of $7.75. 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 posted its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $68.64 million during the quarter, compared to analyst estimates of $67.99 million. Chatham Lodging Trust had a net margin of 3.44% and a return on equity of 1.38%. Equities research analysts forecast that Chatham Lodging Trust will post 1.07 EPS for the current year.

Chatham Lodging Trust announced that its board has initiated a share repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to buy up to 7.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Chatham Lodging Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.36 dividend on an annualized basis and a yield of 4.95%. This is a boost from Chatham Lodging Trust’s previous quarterly dividend of $0.02. Chatham Lodging Trust’s dividend payout ratio (DPR) is currently 600.00%.

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.