Securian Asset Management Inc lowered its stake in Chatham Lodging Trust (NYSE:CLDT) by 25.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,546 shares of the real estate investment trust’s stock after selling 9,500 shares during the quarter. Securian Asset Management Inc owned about 0.06% of Chatham Lodging Trust worth $575,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in CLDT. Assetmark Inc. raised its position in shares of Chatham Lodging Trust by 137.2% during the 2nd quarter. Assetmark Inc. now owns 5,296 shares of the real estate investment trust’s stock valued at $112,000 after buying an additional 3,063 shares in the last quarter. OppenheimerFunds Inc. purchased a new stake in shares of Chatham Lodging Trust during the 2nd quarter valued at about $205,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Chatham Lodging Trust during the 2nd quarter valued at about $206,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Chatham Lodging Trust during the 2nd quarter valued at about $227,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Chatham Lodging Trust during the 1st quarter valued at about $237,000. Institutional investors and hedge funds own 82.52% of the company’s stock.
Shares of NYSE:CLDT opened at $19.70 on Wednesday. The stock has a market cap of $884.55 million, a P/E ratio of 9.21 and a beta of 1.15. Chatham Lodging Trust has a 12 month low of $17.90 and a 12 month high of $23.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.37 and a current ratio of 1.37.
The company also recently declared a monthly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, October 31st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, October 30th. This represents a $1.32 annualized dividend and a yield of 6.70%. Chatham Lodging Trust’s payout ratio is 61.68%.
Several analysts have recently issued reports on CLDT shares. Zacks Investment Research cut shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. B. Riley upped their price target on shares of Chatham Lodging Trust from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, August 2nd. ValuEngine downgraded shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. TheStreet upgraded shares of Chatham Lodging Trust from a “c+” rating to a “b-” rating in a report on Thursday, July 12th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $20.00 price target on shares of Chatham Lodging Trust in a report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Chatham Lodging Trust has a consensus rating of “Hold” and an average price target of $21.20.
In related news, Director C Gerald Goldsmith sold 1,800 shares of the company’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $21.65, for a total transaction of $38,970.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.40% of the company’s stock.
Chatham Lodging Trust Profile
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 135 hotels totaling 18,518 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,020 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 12,498 rooms/suites.
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