JPMorgan Chase & Co. grew its holdings in Chatham Lodging Trust (REIT) (NYSE:CLDT) by 305.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 771,332 shares of the real estate investment trust’s stock after purchasing an additional 581,076 shares during the period. JPMorgan Chase & Co. owned approximately 1.91% of Chatham Lodging Trust worth $16,444,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Great West Life Assurance Co. Can increased its holdings in Chatham Lodging Trust by 1,268.3% during the 2nd quarter. Great West Life Assurance Co. Can now owns 56,100 shares of the real estate investment trust’s stock worth $1,126,000 after acquiring an additional 52,000 shares during the period. Virginia Retirement Systems ET AL increased its holdings in Chatham Lodging Trust by 117.8% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 71,000 shares of the real estate investment trust’s stock worth $1,426,000 after acquiring an additional 38,400 shares during the period. Russell Investments Group Ltd. grew its stake in Chatham Lodging Trust by 11.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 50,574 shares of the real estate investment trust’s stock worth $1,016,000 after buying an additional 5,373 shares in the last quarter. Rhumbline Advisers grew its stake in Chatham Lodging Trust by 59.6% in the 2nd quarter. Rhumbline Advisers now owns 82,329 shares of the real estate investment trust’s stock worth $1,654,000 after buying an additional 30,733 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in Chatham Lodging Trust by 26.9% in the 2nd quarter. Prudential Financial Inc. now owns 508,863 shares of the real estate investment trust’s stock worth $10,223,000 after buying an additional 107,880 shares in the last quarter. 76.18% of the stock is currently owned by institutional investors.
A number of equities analysts have commented on the stock. BidaskClub raised shares of Chatham Lodging Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Barclays boosted their price target on shares of Chatham Lodging Trust from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 1st. Janney Montgomery Scott assumed coverage on shares of Chatham Lodging Trust in a research note on Friday, September 15th. They issued a “neutral” rating and a $21.00 price target for the company. JMP Securities raised shares of Chatham Lodging Trust from a “market perform” rating to an “outperform” rating in a research note on Monday, August 28th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $20.00 price target on shares of Chatham Lodging Trust in a research note on Thursday, September 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Chatham Lodging Trust presently has an average rating of “Hold” and an average target price of $21.25.
Chatham Lodging Trust (NYSE:CLDT) last announced its quarterly earnings data on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.01. Chatham Lodging Trust had a net margin of 9.03% and a return on equity of 3.90%. The company had revenue of $81.40 million during the quarter, compared to analysts’ expectations of $80.12 million. During the same quarter in the prior year, the company earned $0.71 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. analysts forecast that Chatham Lodging Trust will post 2.16 earnings per share for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, December 29th will be paid a $0.11 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.56%. Chatham Lodging Trust’s dividend payout ratio (DPR) is 194.12%.
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Chatham Lodging Trust Company 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 40 hotels with an aggregate of 5,939 rooms located in 16 states and the District of Columbia.
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