Wells Fargo & Company MN Has $852,000 Position in Chatham Lodging Trust (REIT) (CLDT)

Wells Fargo & Company MN cut its holdings in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) by 36.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,421 shares of the real estate investment trust’s stock after selling 24,089 shares during the quarter. Wells Fargo & Company MN owned approximately 0.11% of Chatham Lodging Trust (REIT) worth $852,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in CLDT. State of Alaska Department of Revenue purchased a new stake in shares of Chatham Lodging Trust (REIT) during the 2nd quarter valued at $151,000. Municipal Employees Retirement System of Michigan purchased a new stake in shares of Chatham Lodging Trust (REIT) during the 2nd quarter valued at $182,000. HighTower Advisors LLC purchased a new stake in shares of Chatham Lodging Trust (REIT) during the 1st quarter valued at $208,000. Louisiana State Employees Retirement System purchased a new stake in shares of Chatham Lodging Trust (REIT) during the 2nd quarter valued at $313,000. Finally, Arizona State Retirement System purchased a new stake in shares of Chatham Lodging Trust (REIT) during the 2nd quarter valued at $402,000. 79.14% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Robert D. Perlmutter sold 2,566 shares of the stock in a transaction on Tuesday, August 8th. The stock was 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 owns 33,258 shares in the company, valued at approximately $677,465.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.60% of the stock is currently owned by corporate insiders.

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CLDT has been the subject of several research analyst reports. Zacks Investment Research raised Chatham Lodging Trust (REIT) from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Friday, October 6th. JMP Securities raised Chatham Lodging Trust (REIT) from a “market perform” rating to an “outperform” rating in a research report on Monday, August 28th. Stifel Nicolaus reaffirmed a “hold” rating and set a $19.50 target price on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, September 7th. Janney Montgomery Scott initiated coverage on Chatham Lodging Trust (REIT) in a research report on Friday, September 15th. They set a “neutral” rating and a $21.00 target price for the company. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $20.00 target price on shares of Chatham Lodging Trust (REIT) in a research report on Thursday, September 21st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Chatham Lodging Trust (REIT) presently has an average rating of “Hold” and a consensus price target of $21.08.

Chatham Lodging Trust (NYSE:CLDT) opened at $22.42 on Monday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market capitalization of $905.14, a price-to-earnings ratio of 10.01 and a beta of 1.03. Chatham Lodging Trust has a 12 month low of $16.74 and a 12 month high of $22.60.

Chatham Lodging Trust (REIT) (NYSE:CLDT) last posted its quarterly earnings results on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.01. The company had revenue of $81.40 million during the quarter, compared to the consensus estimate of $80.12 million. Chatham Lodging Trust (REIT) had a return on equity of 3.90% and a net margin of 9.03%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 EPS. research analysts forecast that Chatham Lodging Trust will post 2.17 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Friday, November 24th. Stockholders of record on Tuesday, October 31st will be paid a dividend of $0.11 per share. The ex-dividend date is Monday, October 30th. This represents a $1.32 annualized dividend and a dividend yield of 5.89%. Chatham Lodging Trust (REIT)’s payout ratio is 194.12%.

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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