Chatham Lodging Trust (NYSE:CLDT) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in Chatham Lodging Trust (NYSE:CLDT) by 112.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,699 shares of the real estate investment trust’s stock after purchasing an additional 1,954 shares during the period. PNC Financial Services Group Inc.’s holdings in Chatham Lodging Trust were worth $66,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Piedmont Investment Advisors Inc. raised its position in shares of Chatham Lodging Trust by 4.8% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 11,059 shares of the real estate investment trust’s stock valued at $196,000 after buying an additional 503 shares during the last quarter. Comerica Bank increased its position in Chatham Lodging Trust by 1.3% during the fourth quarter. Comerica Bank now owns 60,925 shares of the real estate investment trust’s stock worth $1,221,000 after purchasing an additional 802 shares during the last quarter. State of Alaska Department of Revenue increased its position in Chatham Lodging Trust by 3.1% during the fourth quarter. State of Alaska Department of Revenue now owns 30,523 shares of the real estate investment trust’s stock worth $539,000 after purchasing an additional 913 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Chatham Lodging Trust by 8.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,437 shares of the real estate investment trust’s stock worth $220,000 after purchasing an additional 1,003 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its position in Chatham Lodging Trust by 5.1% during the third quarter. Belpointe Asset Management LLC now owns 41,895 shares of the real estate investment trust’s stock worth $875,000 after purchasing an additional 2,030 shares during the last quarter. 85.15% of the stock is currently owned by institutional investors.

CLDT has been the subject of several research analyst reports. TheStreet lowered shares of Chatham Lodging Trust from a “b” rating to a “c+” rating in a research report on Thursday, March 7th. Zacks Investment Research downgraded shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research note on Thursday, February 28th. Finally, B. Riley set a $20.00 price objective on shares of Chatham Lodging Trust and gave the stock a “hold” rating in a research note on Tuesday, February 26th. Four analysts have rated the stock with a hold rating, The company has a consensus rating of “Hold” and a consensus target price of $20.00.

CLDT traded up $0.07 during trading on Friday, hitting $19.64. 133,909 shares of the company’s stock were exchanged, compared to its average volume of 225,070. The company has a market cap of $914.42 million, a P/E ratio of 10.07 and a beta of 1.23. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.72. Chatham Lodging Trust has a 1 year low of $17.29 and a 1 year high of $22.18.

Chatham Lodging Trust (NYSE:CLDT) last announced its earnings results on Monday, February 25th. The real estate investment trust reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04). Chatham Lodging Trust had a net margin of 9.35% and a return on equity of 3.77%. Research analysts anticipate that Chatham Lodging Trust will post 1.85 earnings per share for the current year.

The company also recently announced a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Tuesday, April 30th will be paid a $0.11 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.32 annualized dividend and a dividend yield of 6.72%. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 67.69%.

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About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 137 hotels totaling 18,783 rooms/suites, comprised of 42 properties it wholly owns with an aggregate of 6,283 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,500 rooms/suites.

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

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