26,000 Shares in Chatham Lodging Trust (NYSE:CLDT) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in Chatham Lodging Trust (NYSE:CLDT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,000 shares of the real estate investment trust’s stock, valued at approximately $233,000.

Several other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Chatham Lodging Trust in the fourth quarter valued at $25,000. KLP Kapitalforvaltning AS bought a new stake in Chatham Lodging Trust in the fourth quarter valued at $68,000. Ballentine Partners LLC bought a new stake in Chatham Lodging Trust in the fourth quarter valued at $102,000. Intech Investment Management LLC bought a new stake in Chatham Lodging Trust in the fourth quarter valued at $155,000. Finally, Resona Asset Management Co. Ltd. bought a new stake in Chatham Lodging Trust in the fourth quarter valued at $176,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CLDT. Stifel Nicolaus cut their price target on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a report on Tuesday, May 6th. Finally, StockNews.com cut shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th.

Chatham Lodging Trust Stock Performance

Shares of CLDT stock opened at $7.31 on Tuesday. Chatham Lodging Trust has a 12 month low of $5.83 and a 12 month high of $10.00. The stock has a market cap of $358.07 million, a PE ratio of -31.78 and a beta of 1.42. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.37. The company’s fifty day moving average price is $7.10 and its 200-day moving average price is $8.22.

Chatham Lodging Trust (NYSE:CLDT) last announced its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $68.64 million for the quarter, compared to analysts’ expectations of $67.99 million. On average, equities analysts expect that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.

Chatham Lodging Trust announced that its Board of Directors has approved a share 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 stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Chatham Lodging Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.09%. 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 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.