Bank of New York Mellon Corp Buys 24,278 Shares of Chatham Lodging Trust (REIT) (NYSE:CLDT)

Bank of New York Mellon Corp lifted its stake in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) by 13.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 205,901 shares of the real estate investment trust’s stock after purchasing an additional 24,278 shares during the quarter. Bank of New York Mellon Corp’s holdings in Chatham Lodging Trust were worth $1,468,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Donald Smith & CO. Inc. raised its stake in shares of Chatham Lodging Trust by 30.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,497,679 shares of the real estate investment trust’s stock valued at $40,254,000 after purchasing an additional 1,055,999 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Chatham Lodging Trust by 53.4% during the 4th quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust’s stock valued at $8,685,000 after purchasing an additional 337,842 shares during the period. Bank of America Corp DE raised its stake in shares of 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 valued at $6,108,000 after purchasing an additional 58,943 shares during the period. Adage Capital Partners GP L.L.C. bought a new stake in shares of Chatham Lodging Trust during the 4th quarter valued at $5,738,000. Finally, Kennedy Capital Management LLC raised its stake in shares of Chatham Lodging Trust by 11.4% during the 4th quarter. Kennedy Capital Management LLC now owns 522,959 shares of the real estate investment trust’s stock valued at $4,680,000 after purchasing an additional 53,383 shares during the period. 88.37% of the stock is currently owned by institutional investors.

Chatham Lodging Trust Price Performance

Shares of NYSE CLDT opened at $6.76 on Thursday. The firm has a market capitalization of $331.10 million, a P/E ratio of 112.67 and a beta of 1.43. 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 stock’s 50-day simple moving average is $7.13 and its two-hundred day simple moving average is $7.50. Chatham Lodging Trust has a twelve month low of $5.83 and a twelve month high of $10.00.

Chatham Lodging Trust (NYSE:CLDT) last announced its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $68.64 million for the quarter, compared to analyst estimates of $67.99 million. Chatham Lodging Trust had a return on equity of 1.38% and a net margin of 3.44%. As a group, equities analysts anticipate that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.

Chatham Lodging Trust declared that its board has initiated a share repurchase program on Tuesday, May 6th that permits the company to repurchase $25.00 million in shares. This repurchase authorization permits the real estate investment trust to repurchase up to 7.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management 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 $0.09 dividend. This is a positive change from Chatham Lodging Trust’s previous quarterly dividend of $0.02. This represents a $0.36 dividend on an annualized basis and a yield of 5.33%. The ex-dividend date was Monday, June 30th. Chatham Lodging Trust’s dividend payout ratio is currently 600.00%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus decreased their price objective on Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a research note on Tuesday, May 6th.

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.