Prudential Financial Inc. lowered its stake in Chatham Lodging Trust (NYSE:CLDT) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 423,797 shares of the real estate investment trust’s stock after selling 26,640 shares during the period. Prudential Financial Inc. owned 0.90% of Chatham Lodging Trust worth $7,998,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. First Trust Advisors LP purchased a new position in shares of Chatham Lodging Trust in the 2nd quarter valued at approximately $1,605,000. LSV Asset Management grew its position in shares of Chatham Lodging Trust by 6.5% in the 1st quarter. LSV Asset Management now owns 964,367 shares of the real estate investment trust’s stock worth $18,554,000 after buying an additional 58,900 shares during the period. Systematic Financial Management LP grew its position in shares of Chatham Lodging Trust by 14.4% in the 2nd quarter. Systematic Financial Management LP now owns 282,590 shares of the real estate investment trust’s stock worth $5,332,000 after buying an additional 35,590 shares during the period. Boston Partners increased its stake in shares of Chatham Lodging Trust by 2.8% in the 1st quarter. Boston Partners now owns 1,044,636 shares of the real estate investment trust’s stock worth $20,098,000 after acquiring an additional 28,524 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Chatham Lodging Trust by 90.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 50,420 shares of the real estate investment trust’s stock worth $951,000 after acquiring an additional 23,994 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Robert D. Perlmutter acquired 2,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were bought at an average cost of $16.40 per share, with a total value of $41,000.00. Following the transaction, the director now owns 45,666 shares of the company’s stock, valued at approximately $748,922.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.60% of the company’s stock.
Shares of NYSE:CLDT traded up $0.18 on Wednesday, hitting $18.46. 3,956 shares of the company traded hands, compared to its average volume of 214,083. Chatham Lodging Trust has a 52 week low of $16.29 and a 52 week high of $21.74. The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.73. The stock has a 50 day simple moving average of $17.24 and a 200-day simple moving average of $18.83. The company has a market cap of $857.70 million, a PE ratio of 9.41 and a beta of 1.06.
The business also recently declared a monthly dividend, which will be paid on Friday, October 25th. Stockholders of record on Monday, September 30th will be given a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 7.15%. The ex-dividend date is Friday, September 27th. Chatham Lodging Trust’s dividend payout ratio is presently 67.69%.
A number of equities analysts have weighed in on CLDT shares. ValuEngine downgraded shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. B. Riley dropped their price target on Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Zacks Investment Research downgraded Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Finally, Barclays set a $18.00 price target on Chatham Lodging Trust and gave the stock a “hold” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock has a consensus rating of “Hold” and an average price target of $19.00.
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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