Algert Global LLC Has $929,000 Stock Holdings in Chatham Lodging Trust (NYSE:CLDT)

Algert Global LLC lifted its holdings in shares of Chatham Lodging Trust (NYSE:CLDT) by 171.3% in the fourth quarter, Holdings Channel.com reports. The fund owned 103,809 shares of the real estate investment trust’s stock after purchasing an additional 65,542 shares during the quarter. Algert Global LLC’s holdings in Chatham Lodging Trust were worth $929,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CLDT. Donald Smith & CO. Inc. lifted its stake in Chatham Lodging Trust by 30.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,497,679 shares of the real estate investment trust’s stock worth $40,254,000 after purchasing an additional 1,055,999 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Chatham Lodging Trust by 53.4% in the 4th quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust’s stock worth $8,685,000 after buying an additional 337,842 shares in the last quarter. Adage Capital Partners GP L.L.C. bought a new position in shares of Chatham Lodging Trust during the 4th quarter worth approximately $5,738,000. Kennedy Capital Management LLC boosted its stake in Chatham Lodging Trust by 11.4% in 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 buying an additional 53,383 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Chatham Lodging Trust by 8.0% during the fourth quarter. Northern Trust Corp now owns 506,353 shares of the real estate investment trust’s stock worth $4,532,000 after acquiring an additional 37,574 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLDT has been the topic of several analyst reports. Alliance Global Partners reaffirmed a “buy” rating on shares of Chatham Lodging Trust in a report on Tuesday. StockNews.com lowered shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Stifel Nicolaus decreased their price target on Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating on the stock in a research report on Wednesday, April 16th.

Chatham Lodging Trust Stock Down 1.4 %

Shares of NYSE:CLDT opened at $6.99 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. The firm has a market cap of $342.38 million, a P/E ratio of -30.39 and a beta of 1.42. Chatham Lodging Trust has a 12 month low of $5.83 and a 12 month high of $10.00. The company’s 50-day moving average price is $7.12 and its two-hundred day moving average price is $8.23.

Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01. Chatham Lodging Trust had a negative net margin of 0.99% and a negative return on equity of 0.39%. The business had revenue of $68.64 million for the quarter, compared to analysts’ expectations of $67.99 million. As a group, research analysts forecast that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.

Chatham Lodging Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Monday, March 31st. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 600.00%.

Chatham Lodging Trust announced that its Board of Directors has approved a share buyback 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 usually an indication that the company’s leadership believes its shares are undervalued.

About Chatham Lodging Trust

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.