Convergence Investment Partners LLC purchased a new stake in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 62,630 shares of the real estate investment trust’s stock, valued at approximately $1,258,000.

A number of other institutional investors have also recently modified their holdings of CLDT. Comerica Bank bought a new stake in Chatham Lodging Trust (REIT) during the first quarter valued at about $359,000. BNP Paribas Arbitrage SA boosted its stake in Chatham Lodging Trust (REIT) by 11.1% in the first quarter. BNP Paribas Arbitrage SA now owns 13,401 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 1,341 shares during the period. Bank of New York Mellon Corp boosted its stake in Chatham Lodging Trust (REIT) by 3.5% in the first quarter. Bank of New York Mellon Corp now owns 321,376 shares of the real estate investment trust’s stock valued at $6,347,000 after buying an additional 10,821 shares during the period. First Trust Advisors LP boosted its stake in Chatham Lodging Trust (REIT) by 11.6% in the first quarter. First Trust Advisors LP now owns 137,616 shares of the real estate investment trust’s stock valued at $2,718,000 after buying an additional 14,249 shares during the period. Finally, LSV Asset Management boosted its stake in Chatham Lodging Trust (REIT) by 49.1% in the first quarter. LSV Asset Management now owns 801,567 shares of the real estate investment trust’s stock valued at $15,830,000 after buying an additional 263,902 shares during the period. Institutional investors own 81.19% of the company’s stock.

Shares of Chatham Lodging Trust (NYSE:CLDT) opened at 19.94 on Wednesday. Chatham Lodging Trust has a 52-week low of $16.45 and a 52-week high of $21.75. The firm has a 50-day moving average of $20.29 and a 200 day moving average of $19.89. The stock has a market capitalization of $781.01 million, a PE ratio of 30.21 and a beta of 1.05.

Chatham Lodging Trust (REIT) (NYSE:CLDT) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by $0.52. Chatham Lodging Trust (REIT) had a net margin of 8.73% and a return on equity of 3.76%. The company had revenue of $77.90 million for the quarter, compared to analyst estimates of $77.84 million. During the same quarter in the prior year, the business earned $0.69 earnings per share. Chatham Lodging Trust (REIT)’s revenue was down .1% on a year-over-year basis. Equities research analysts forecast that Chatham Lodging Trust will post $0.59 EPS for the current fiscal year.

The business also recently declared a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date is Tuesday, August 29th. Chatham Lodging Trust (REIT)’s dividend payout ratio is presently 200.00%.

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Several equities research analysts have issued reports on CLDT shares. Zacks Investment Research raised shares of Chatham Lodging Trust (REIT) from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. FBR & Co reissued a “hold” rating and issued a $20.00 price objective on shares of Chatham Lodging Trust (REIT) in a research report on Friday, May 12th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Chatham Lodging Trust (REIT) presently has a consensus rating of “Hold” and an average target price of $19.75.

In other Chatham Lodging Trust (REIT) news, Director Robert D. Perlmutter sold 2,566 shares of Chatham Lodging Trust (REIT) stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $20.37, for a total transaction of $52,269.42. Following the completion of the sale, the director now directly owns 33,258 shares in the company, valued at $677,465.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.60% of the stock is owned by company insiders.

About Chatham Lodging Trust (REIT)

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). As of December 31, 2016, the Company owned 38 hotels with an aggregate of 5,712 rooms located in 15 states and the District of Columbia.

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Institutional Ownership by Quarter for Chatham Lodging Trust (REIT) (NYSE:CLDT)

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