Arizona State Retirement System grew its stake in shares of Chatham Lodging Trust (NYSE:CLDT) by 273.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 76,263 shares of the real estate investment trust’s stock after purchasing an additional 55,863 shares during the quarter. Arizona State Retirement System owned about 0.17% of Chatham Lodging Trust worth $1,736,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the business. Schroder Investment Management Group bought a new position in shares of Chatham Lodging Trust during the 3rd quarter worth approximately $112,000. Aperio Group LLC bought a new position in shares of Chatham Lodging Trust during the 4th quarter worth approximately $223,000. SG Americas Securities LLC bought a new position in shares of Chatham Lodging Trust during the 3rd quarter worth approximately $278,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Chatham Lodging Trust by 61.4% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 13,400 shares of the real estate investment trust’s stock worth $286,000 after acquiring an additional 5,100 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of Chatham Lodging Trust by 63.0% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 14,770 shares of the real estate investment trust’s stock worth $315,000 after acquiring an additional 5,710 shares during the period. 88.61% of the stock is currently owned by hedge funds and other institutional investors.
CLDT has been the subject of several recent research reports. Zacks Investment Research upgraded Chatham Lodging Trust from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 20th. Barclays restated a “hold” rating and issued a $23.00 price target on shares of Chatham Lodging Trust in a research note on Friday, December 15th. Stifel Nicolaus restated a “hold” rating and issued a $20.00 price target on shares of Chatham Lodging Trust in a research note on Tuesday, February 27th. B. Riley reduced their price target on Chatham Lodging Trust from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Finally, Cantor Fitzgerald set a $20.00 price target on Chatham Lodging Trust and gave the company a “hold” rating in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $21.00.
Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings results on Monday, February 26th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.02). The firm had revenue of $70.32 million during the quarter, compared to the consensus estimate of $68.50 million. Chatham Lodging Trust had a net margin of 9.86% and a return on equity of 4.11%. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. equities analysts predict that Chatham Lodging Trust will post 1.91 earnings per share for the current fiscal year.
The business also recently announced a monthly dividend, which will be paid on Friday, April 27th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.75%. Chatham Lodging Trust’s payout ratio is 180.82%.
In related news, Chairman Jeffrey H. Fisher bought 5,500 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was purchased at an average cost of $18.48 per share, for a total transaction of $101,640.00. Following the transaction, the chairman now owns 691,545 shares in the company, valued at approximately $12,779,751.60. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director C Gerald Goldsmith bought 5,000 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were bought at an average price of $18.32 per share, with a total value of $91,600.00. Following the completion of the transaction, the director now owns 26,328 shares in the company, valued at approximately $482,328.96. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 14,715 shares of company stock valued at $270,485. Corporate insiders own 3.60% of the company’s stock.
Chatham Lodging Trust Profile
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). The Company owned 41 hotels with an aggregate of 6,163 rooms located in 16 states and the District of Columbia.
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