Metropolitan Life Insurance Co. NY Decreases Stake in Chatham Lodging Trust (REIT) (NYSE:CLDT)
Metropolitan Life Insurance Co. NY decreased its stake in Chatham Lodging Trust (REIT) (NYSE:CLDT) by 0.1% during the first quarter, Holdings Channel reports. The fund owned 28,691 shares of the real estate investment trust’s stock after selling 25 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Chatham Lodging Trust (REIT) were worth $567,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Chatham Lodging Trust (REIT) during the first quarter valued at approximately $148,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Chatham Lodging Trust (REIT) during the first quarter valued at about $237,000. Martingale Asset Management L P purchased a new position in shares of Chatham Lodging Trust (REIT) during the first quarter valued at about $251,000. BNP Paribas Arbitrage SA increased its position in shares of 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 in the last quarter. Finally, Comerica Bank purchased a new position in shares of Chatham Lodging Trust (REIT) during the first quarter valued at about $359,000. 82.76% of the stock is currently owned by institutional investors and hedge funds.
Shares of Chatham Lodging Trust (NYSE CLDT) traded down 0.55% on Thursday, hitting $20.01. 83,960 shares of the stock traded hands. The stock’s 50 day moving average price is $20.33 and its 200 day moving average price is $19.93. The stock has a market cap of $783.75 million, a P/E ratio of 30.32 and a beta of 1.05. Chatham Lodging Trust has a 52-week low of $16.45 and a 52-week high of $21.86.
Chatham Lodging Trust (REIT) (NYSE:CLDT) last released its earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.52. The company had revenue of $77.90 million during the quarter, compared to analyst estimates of $77.84 million. Chatham Lodging Trust (REIT) had a return on equity of 3.76% and a net margin of 8.73%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business earned $0.69 earnings per share. On average, equities analysts expect that Chatham Lodging Trust will post $0.59 EPS for the current fiscal year.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, August 25th. Shareholders of record on Monday, July 31st will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 6.56%. The ex-dividend date of this dividend is Thursday, July 27th. Chatham Lodging Trust (REIT)’s payout ratio is 200.00%.
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CLDT has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Chatham Lodging Trust (REIT) from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. FBR & Co reiterated a “hold” rating and issued a $20.00 target price on shares of Chatham Lodging Trust (REIT) in a research note on Friday, May 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $19.75.
In other news, Director Robert D. Perlmutter sold 2,566 shares of Chatham Lodging Trust (REIT) stock in a transaction that occurred on 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 transaction, the director now directly owns 33,258 shares of the company’s stock, valued at approximately $677,465.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.60% of the company’s stock.
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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