North Star Investment Management Corp. boosted its stake in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) by 8.3% during the second quarter, Holdings Channel reports. The firm owned 45,520 shares of the real estate investment trust’s stock after buying an additional 3,500 shares during the period. North Star Investment Management Corp.’s holdings in Chatham Lodging Trust (REIT) were worth $914,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in Chatham Lodging Trust (REIT) during the first quarter worth approximately $148,000. State of Alaska Department of Revenue bought a new position in Chatham Lodging Trust (REIT) during the second quarter worth approximately $151,000. HighTower Advisors LLC bought a new position in Chatham Lodging Trust (REIT) during the first quarter worth approximately $208,000. Dynamic Technology Lab Private Ltd bought a new position in Chatham Lodging Trust (REIT) during the first quarter worth approximately $237,000. Finally, Martingale Asset Management L P bought a new position in Chatham Lodging Trust (REIT) during the first quarter worth approximately $251,000. Institutional investors and hedge funds own 83.54% of the company’s stock.
Chatham Lodging Trust (NYSE CLDT) traded down 0.44% on Thursday, reaching $20.49. 13,735 shares of the company’s stock were exchanged. The stock has a market capitalization of $785.63 million, a PE ratio of 24.11 and a beta of 1.04. The firm has a 50 day moving average of $20.14 and a 200 day moving average of $19.91. Chatham Lodging Trust has a 12 month low of $16.45 and a 12 month high of $24.80.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last posted its quarterly earnings results on Tuesday, May 9th. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. Chatham Lodging Trust (REIT) had a net margin of 11.15% and a return on equity of 4.79%. The firm had revenue of $69.22 million for the quarter, compared to the consensus estimate of $69.16 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. Equities analysts predict that Chatham Lodging Trust will post $0.73 earnings per share for the current fiscal year.
The firm also recently declared a monthly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, July 27th. This represents a $1.32 dividend on an annualized basis and a yield of 6.41%. Chatham Lodging Trust (REIT)’s dividend payout ratio is currently 157.14%.
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A number of research firms have commented on CLDT. Zacks Investment Research upgraded shares of Chatham Lodging Trust (REIT) from a “sell” rating to a “hold” rating in a research note on Monday, May 1st. FBR & Co reiterated a “hold” rating and set a $20.00 price objective on shares of Chatham Lodging Trust (REIT) in a research note on Friday, May 12th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $19.60.
Chatham Lodging Trust (REIT) Company Profile
Chatham Lodging Trust is a real estate investment trust. The Company invests primarily in upscale extended-stay and premium-branded select-service hotels. All of the Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P. (the Operating Partnership). As of December 31, 2016, the Company owned 38 hotels with an aggregate of 5,712 rooms located in 15 states and the District of Columbia.
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