Chatham Lodging Trust (NYSE:CLDT) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its position in shares of Chatham Lodging Trust (NYSE:CLDT) by 25.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,328 shares of the real estate investment trust’s stock after purchasing an additional 60,260 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Chatham Lodging Trust were worth $2,697,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CLDT. Donald Smith & CO. Inc. increased its holdings in Chatham Lodging Trust by 30.7% in the fourth 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 buying an additional 1,055,999 shares in the last quarter. JPMorgan Chase & Co. increased its stake 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 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 shares of Chatham Lodging Trust by 9.5% in 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. acquired a new position in Chatham Lodging Trust in the 4th quarter worth about $5,738,000. Finally, Kennedy Capital Management LLC boosted its position in Chatham Lodging Trust by 11.4% during the fourth quarter. Kennedy Capital Management LLC now owns 522,959 shares of the real estate investment trust’s stock worth $4,680,000 after purchasing an additional 53,383 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Chatham Lodging Trust Price Performance

Shares of Chatham Lodging Trust stock opened at $7.20 on Friday. The business has a 50 day simple moving average of $7.04 and a two-hundred day simple moving average of $8.20. Chatham Lodging Trust has a 12 month low of $5.83 and a 12 month high of $10.00. The stock has a market capitalization of $352.68 million, a P/E ratio of -31.30 and a beta of 1.42. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96.

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

Chatham Lodging Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Monday, March 31st. Chatham Lodging Trust’s dividend payout ratio (DPR) is 600.00%.

Chatham Lodging Trust declared that its Board of Directors has approved a share buyback program on Tuesday, May 6th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the real estate investment trust to reacquire up to 7.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Stifel Nicolaus reduced their target price on 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. Alliance Global Partners restated a “buy” rating on shares of Chatham Lodging Trust in a research report on Tuesday, May 6th. Finally, StockNews.com downgraded shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th.

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.