HighTower Advisors LLC purchased a new position in Chatham Lodging Trust (REIT) (NYSE:CLDT) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,449 shares of the real estate investment trust’s stock, valued at approximately $208,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of CLDT. Acadian Asset Management LLC acquired a new position in shares of Chatham Lodging Trust (REIT) during the first quarter valued at about $148,000. Dynamic Technology Lab Private Ltd purchased a new stake in Chatham Lodging Trust (REIT) during the first quarter valued at approximately $237,000. Martingale Asset Management L P purchased a new stake in Chatham Lodging Trust (REIT) during the first quarter valued at approximately $251,000. BNP Paribas Arbitrage SA raised its stake in Chatham Lodging Trust (REIT) by 11.1% in the first quarter. BNP Paribas Arbitrage SA now owns 13,401 shares of the real estate investment trust’s stock valued at $265,000 after buying an additional 1,341 shares in the last quarter. Finally, Comerica Bank purchased a new stake in Chatham Lodging Trust (REIT) during the first quarter valued at approximately $359,000. 81.19% of the stock is owned by institutional investors and hedge funds.
Shares of Chatham Lodging Trust (NYSE:CLDT) traded down 1.50% during mid-day trading on Friday, hitting $19.75. 772,439 shares of the stock traded hands. Chatham Lodging Trust has a 12-month low of $16.45 and a 12-month high of $21.74. The firm has a market cap of $773.57 million, a price-to-earnings ratio of 29.92 and a beta of 1.05. The firm’s 50 day moving average price is $20.26 and its 200 day moving average price is $19.88.
The firm also recently declared a monthly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, August 31st will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.68%. Chatham Lodging Trust (REIT)’s dividend payout ratio (DPR) is presently 200.00%.
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Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Chatham Lodging Trust (REIT) from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. FBR & Co restated a “hold” rating and set a $20.00 price target on shares of Chatham Lodging Trust (REIT) in a research report on Friday, May 12th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $19.75.
In other news, Director Robert D. Perlmutter sold 2,566 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was 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 in the company, valued at $677,465.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 3.60% of the stock is owned by insiders.
About Chatham Lodging Trust (REIT)
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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