Nisa Investment Advisors LLC Has $76,000 Position in Chatham Lodging Trust (REIT) (NYSE:CLDT)

Nisa Investment Advisors LLC lowered its stake in Chatham Lodging Trust (REIT) (NYSE:CLDT) by 20.8% in the first quarter, HoldingsChannel.com reports. The firm owned 10,558 shares of the real estate investment trust’s stock after selling 2,773 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Chatham Lodging Trust were worth $76,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Chatham Lodging Trust by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 56,119 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 19,679 shares during the period. Barclays PLC grew its holdings in Chatham Lodging Trust by 15.7% during the fourth quarter. Barclays PLC now owns 326,530 shares of the real estate investment trust’s stock worth $2,922,000 after purchasing an additional 44,335 shares during the period. Northern Trust Corp raised its stake in Chatham Lodging Trust by 8.0% in the 4th quarter. Northern Trust Corp now owns 506,353 shares of the real estate investment trust’s stock valued at $4,532,000 after acquiring an additional 37,574 shares during the period. Bank of America Corp DE lifted 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 worth $6,108,000 after buying an additional 58,943 shares during the last quarter. Finally, Man Group plc bought a new stake in shares of Chatham Lodging Trust during the fourth quarter worth approximately $682,000. 88.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th. Stifel Nicolaus lowered their price objective 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. Finally, Alliance Global Partners reaffirmed a “buy” rating on shares of Chatham Lodging Trust in a research note on Tuesday, May 6th.

Chatham Lodging Trust Stock Down 0.4%

Chatham Lodging Trust stock opened at $7.05 on Friday. The firm has a market capitalization of $345.34 million, a price-to-earnings ratio of 117.50 and a beta of 1.43. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.31. Chatham Lodging Trust has a 1-year low of $5.83 and a 1-year high of $10.00. The firm’s fifty day moving average price is $7.14 and its two-hundred day moving average price is $7.58.

Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly 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. Chatham Lodging Trust had a net margin of 3.44% and a return on equity of 1.38%. The company had revenue of $68.64 million during the quarter, compared to analyst estimates of $67.99 million. On average, equities research analysts predict that Chatham Lodging Trust will post 1.07 earnings per share for the current fiscal year.

Chatham Lodging Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 5.11%. This is an increase from Chatham Lodging Trust’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, June 30th. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 600.00%.

Chatham Lodging Trust declared that its board has approved a stock buyback plan on Tuesday, May 6th that allows the company to buyback $25.00 million in outstanding shares. This buyback authorization allows the real estate investment trust to reacquire up to 7.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

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.