Insider Selling: Chatham Lodging Trust (REIT) (NYSE:CLDT) Director Sells 2,566 Shares of Stock
Chatham Lodging Trust (REIT) (NYSE:CLDT) Director Robert D. Perlmutter sold 2,566 shares of the 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 transaction, the director now directly owns 33,258 shares of the company’s stock, valued at $677,465.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Chatham Lodging Trust (NYSE CLDT) traded down 1.81% on Wednesday, hitting $20.08. 29,617 shares of the stock were exchanged. The company has a market cap of $787.64 million, a P/E ratio of 30.42 and a beta of 1.05. The firm’s 50-day moving average is $20.33 and its 200-day moving average is $19.93. Chatham Lodging Trust has a one year low of $16.45 and a one year high of $22.05.
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 the consensus estimate 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 business had revenue of $77.90 million for the quarter, compared to analyst estimates of $77.84 million. During the same period in the prior year, the company earned $0.69 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, equities analysts forecast that Chatham Lodging Trust will post $0.59 EPS for the current fiscal year.
The firm also recently announced a monthly dividend, which will be paid on Friday, August 25th. Investors 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 6.45%. The ex-dividend date of this dividend is Thursday, July 27th. Chatham Lodging Trust (REIT)’s dividend payout ratio is presently 200.00%.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in Chatham Lodging Trust (REIT) during the first quarter valued at approximately $148,000. State of Alaska Department of Revenue acquired a new stake in Chatham Lodging Trust (REIT) during the second quarter valued at approximately $151,000. Municipal Employees Retirement System of Michigan acquired a new stake in Chatham Lodging Trust (REIT) during the second quarter valued at approximately $182,000. HighTower Advisors LLC acquired a new stake in Chatham Lodging Trust (REIT) during the first quarter valued at approximately $208,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Chatham Lodging Trust (REIT) during the first quarter valued at approximately $237,000. 82.76% of the stock is owned by institutional investors and hedge funds.
A number of 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 report on Monday, May 1st. FBR & Co reaffirmed a “hold” rating and issued a $20.00 target price on shares of Chatham Lodging Trust (REIT) in a report on Friday, May 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.75.
Chatham Lodging Trust (REIT) 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). 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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