PharVision Advisers LLC Makes New Investment in Chatham Lodging Trust (NYSE:CLDT)

PharVision Advisers LLC purchased a new position in Chatham Lodging Trust (NYSE:CLDT) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 28,087 shares of the real estate investment trust’s stock, valued at approximately $251,000. PharVision Advisers LLC owned 0.06% of Chatham Lodging Trust as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Donald Smith & CO. Inc. increased its stake in shares of Chatham Lodging Trust by 30.7% in 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 acquiring an additional 1,055,999 shares in the last quarter. JPMorgan Chase & Co. increased its stake in 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 in the last quarter. Bank of America Corp DE increased its stake in 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 in the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in Chatham Lodging Trust during the 4th quarter valued at $5,738,000. Finally, Kennedy Capital Management LLC increased its stake in 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 in the last quarter. Institutional investors and hedge funds own 88.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a research note on Tuesday, May 6th. Stifel Nicolaus reduced their target price on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Finally, Wall Street Zen lowered shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th.

Chatham Lodging Trust Price Performance

Shares of NYSE:CLDT opened at $6.92 on Friday. The company’s 50-day moving average is $6.98 and its 200 day moving average is $8.17. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $338.97 million, a P/E ratio of -30.09 and a beta of 1.42. Chatham Lodging Trust has a fifty-two week low of $5.83 and a fifty-two week high of $10.00.

Chatham Lodging Trust (NYSE:CLDT) last issued its quarterly 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 company had revenue of $68.64 million for the quarter, compared to the consensus estimate of $67.99 million. Chatham Lodging Trust had a negative net margin of 0.99% and a negative return on equity of 0.39%. On average, equities research analysts forecast that Chatham Lodging Trust will post 1.07 earnings per share for the current year.

Chatham Lodging Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Monday, March 31st. Chatham Lodging Trust’s dividend payout ratio (DPR) is currently 600.00%.

Chatham Lodging Trust declared that its Board of Directors has authorized a share buyback program on Tuesday, May 6th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to purchase up to 7.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.