Pinebridge Investments L.P. reduced its position in Chatham Lodging Trust (NYSE:CLDT) by 7.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,722 shares of the real estate investment trust’s stock after selling 6,284 shares during the period. Pinebridge Investments L.P. owned 0.18% of Chatham Lodging Trust worth $1,561,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Mason Street Advisors LLC boosted its stake in Chatham Lodging Trust by 3.5% in the 1st quarter. Mason Street Advisors LLC now owns 14,952 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 506 shares in the last quarter. Piedmont Investment Advisors Inc. boosted its stake in Chatham Lodging Trust by 5.9% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 11,711 shares of the real estate investment trust’s stock worth $225,000 after purchasing an additional 652 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Chatham Lodging Trust by 14.1% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,433 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 1,169 shares in the last quarter. Texas Permanent School Fund boosted its stake in Chatham Lodging Trust by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 31,611 shares of the real estate investment trust’s stock worth $608,000 after purchasing an additional 1,171 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Chatham Lodging Trust in the 2nd quarter worth approximately $25,000. Institutional investors and hedge funds own 85.07% of the company’s stock.
In related news, Director Robert D. Perlmutter purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of $16.40 per share, with a total value of $41,000.00. Following the purchase, the director now owns 45,666 shares of the company’s stock, valued at $748,922.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is currently owned by company insiders.
A number of analysts recently commented on the stock. ValuEngine cut shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Zacks Investment Research lowered shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Barclays set a $18.00 target price on shares of Chatham Lodging Trust and gave the company a “hold” rating in a report on Monday, August 12th. Finally, B. Riley cut their target price on shares of Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.00.
Chatham Lodging Trust stock traded down $0.03 during trading on Tuesday, reaching $18.09. The company had a trading volume of 33,305 shares, compared to its average volume of 228,053. The firm’s 50-day simple moving average is $17.20 and its 200 day simple moving average is $18.76. Chatham Lodging Trust has a 1-year low of $16.29 and a 1-year high of $21.74. The firm has a market capitalization of $850.19 million, a PE ratio of 9.28 and a beta of 1.06. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.51 and a current ratio of 1.51.
The business also recently declared a monthly dividend, which will be paid on Friday, October 25th. Investors of record on Monday, September 30th will be paid a $0.11 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.32 dividend on an annualized basis and a yield of 7.30%. Chatham Lodging Trust’s dividend payout ratio is currently 67.69%.
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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