Schwab Charles Investment Management Inc. boosted its stake in Chatham Lodging Trust (REIT) (NYSE:CLDT) by 5.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,344 shares of the real estate investment trust’s stock after buying an additional 8,520 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.42% of Chatham Lodging Trust (REIT) worth $3,187,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of CLDT. Quadrant Capital Management LLC raised its position in shares of Chatham Lodging Trust (REIT) by 2.4% in the first quarter. Quadrant Capital Management LLC now owns 33,975 shares of the real estate investment trust’s stock valued at $671,000 after buying an additional 800 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Chatham Lodging Trust (REIT) by 11.1% in the first quarter. BNP Paribas Arbitrage SA now owns 13,401 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 1,341 shares during the last quarter. Mutual of America Capital Management LLC raised its position in shares of Chatham Lodging Trust (REIT) by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 192,681 shares of the real estate investment trust’s stock valued at $3,805,000 after buying an additional 1,435 shares during the last quarter. American International Group Inc. raised its position in shares of Chatham Lodging Trust (REIT) by 7.1% in the first quarter. American International Group Inc. now owns 23,115 shares of the real estate investment trust’s stock valued at $457,000 after buying an additional 1,532 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in shares of Chatham Lodging Trust (REIT) by 4.2% in the first quarter. Parametric Portfolio Associates LLC now owns 47,461 shares of the real estate investment trust’s stock valued at $937,000 after buying an additional 1,930 shares during the last quarter. 81.19% of the stock is currently owned by institutional investors.
Shares of Chatham Lodging Trust (CLDT) traded down 1.50% on Friday, hitting $19.75. The stock had a trading volume of 772,439 shares. The firm’s 50 day moving average is $20.26 and its 200-day moving average is $19.88. Chatham Lodging Trust has a one year low of $16.45 and a one year high of $21.75. The stock has a market capitalization of $773.57 million, a PE ratio of 29.92 and a beta of 1.05.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.52. The firm had revenue of $77.90 million during the quarter, compared to the consensus estimate of $77.84 million. Chatham Lodging Trust (REIT) had a net margin of 8.73% and a return on equity of 3.76%. The business’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. Equities research analysts expect that Chatham Lodging Trust will post $0.59 earnings per share for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 31st will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.32 annualized dividend and a yield of 6.68%. Chatham Lodging Trust (REIT)’s payout ratio is presently 200.00%.
TRADEMARK VIOLATION WARNING: This report was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://stocknewstimes.com/2017/08/19/schwab-charles-investment-management-inc-boosts-stake-in-chatham-lodging-trust-reit-cldt.html.
Several brokerages have weighed in on CLDT. FBR & Co reaffirmed a “hold” rating and issued a $20.00 target price on shares of Chatham Lodging Trust (REIT) in a research report on Friday, May 12th. Zacks Investment Research lowered Chatham Lodging Trust (REIT) from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $19.75.
In related news, Director Robert D. Perlmutter sold 2,566 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $20.37, for a total transaction of $52,269.42. Following the sale, the director now owns 33,258 shares in the company, valued at $677,465.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.60% of the company’s stock.
About Chatham Lodging Trust (REIT)
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.
Want to see what other hedge funds are holding CLDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chatham Lodging Trust (REIT) (NYSE:CLDT).
Receive News & Ratings for Chatham Lodging Trust (REIT) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chatham Lodging Trust (REIT) and related companies with MarketBeat.com's FREE daily email newsletter.
