First Mercantile Trust Co. cut its position in Chatham Lodging Trust (NYSE:CLDT) by 5.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,890 shares of the company’s stock after selling 300 shares during the period. First Mercantile Trust Co.’s holdings in Chatham Lodging Trust were worth $107,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its position in shares of Chatham Lodging Trust by 13.7% in the second quarter. Teacher Retirement System of Texas now owns 5,371 shares of the company’s stock worth $118,000 after buying an additional 647 shares during the last quarter. Societe Generale acquired a new position in shares of Chatham Lodging Trust during the second quarter worth about $136,000. SG Americas Securities LLC acquired a new position in shares of Chatham Lodging Trust during the second quarter worth about $136,000. PNC Financial Services Group Inc. increased its position in shares of Chatham Lodging Trust by 2,937.7% in the second quarter. PNC Financial Services Group Inc. now owns 6,197 shares of the company’s stock worth $136,000 after buying an additional 5,993 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. increased its position in shares of Chatham Lodging Trust by 6.5% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 7,538 shares of the company’s stock worth $166,000 after buying an additional 460 shares during the last quarter. 83.95% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Chatham Lodging Trust (NYSE:CLDT) opened at 18.63 on Friday. The firm has a 50-day moving average price of $19.94 and a 200-day moving average price of $21.31. The stock has a market cap of $712.43 million, a PE ratio of 20.96 and a beta of 1.03. Chatham Lodging Trust has a 12 month low of $16.12 and a 12 month high of $24.80.
Chatham Lodging Trust (NYSE:CLDT) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by $0.02. Chatham Lodging Trust had a net margin of 11.72% and a return on equity of 4.93%. The company earned $78 million during the quarter, compared to analysts’ expectations of $78.81 million. During the same quarter in the prior year, the business posted $0.71 earnings per share. The company’s revenue was up 7.7% compared to the same quarter last year. Equities analysts forecast that Chatham Lodging Trust will post $2.30 EPS for the current year.
The firm also recently announced a monthly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, September 30th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.32 annualized dividend and a yield of 7.09%. Chatham Lodging Trust’s dividend payout ratio (DPR) is 150.00%.
CLDT has been the topic of a number of research analyst reports. Cantor Fitzgerald reaffirmed a “buy” rating and set a $23.50 price target on shares of Chatham Lodging Trust in a report on Monday, August 8th. Barclays PLC downgraded Chatham Lodging Trust from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $24.00 to $22.00 in a report on Thursday, August 4th. Zacks Investment Research raised Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Tuesday. FBR & Co downgraded Chatham Lodging Trust from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $26.00 to $23.00 in a report on Thursday, August 4th. Finally, SunTrust Banks Inc. lowered their target price on Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, August 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $23.08.
Chatham Lodging Trust Company Profile
Chatham Lodging Trust is a real estate investment trust (REIT) organized to invest primarily in premium-branded upscale extended-stay and select-service hotels. The Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P (Operating Partnership). The Operating Partnership and its subsidiaries lease the Company’s hotels.
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