Chatham Lodging Trust (NYSE:CLDT) Downgraded to “Sell” at StockNews.com

StockNews.com lowered shares of Chatham Lodging Trust (NYSE:CLDT) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

Separately, Barclays reduced their price target on Chatham Lodging Trust from $13.00 to $12.00 and set an overweight rating for the company in a report on Wednesday, April 17th.

Chatham Lodging Trust Price Performance

Shares of NYSE:CLDT opened at $8.53 on Tuesday. The firm has a market cap of $417.20 million, a price-to-earnings ratio of -71.08 and a beta of 1.80. Chatham Lodging Trust has a 1 year low of $7.60 and a 1 year high of $11.32. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $8.70 and a 200 day simple moving average of $9.76.

Chatham Lodging Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, June 28th. This represents a $0.28 annualized dividend and a yield of 3.28%. Chatham Lodging Trust’s dividend payout ratio (DPR) is currently -233.33%.

Insider Transactions at Chatham Lodging Trust

In related news, COO Dennis M. Craven purchased 12,000 shares of the stock in a transaction on Monday, June 10th. The shares were bought at an average price of $7.88 per share, for a total transaction of $94,560.00. Following the completion of the acquisition, the chief operating officer now directly owns 110,943 shares in the company, valued at approximately $874,230.84. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chatham Lodging Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP grew its stake in shares of Chatham Lodging Trust by 105.7% in the third quarter. GSA Capital Partners LLP now owns 145,560 shares of the real estate investment trust’s stock worth $1,393,000 after acquiring an additional 74,813 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in Chatham Lodging Trust by 12.1% in the 3rd quarter. Belpointe Asset Management LLC now owns 32,694 shares of the real estate investment trust’s stock valued at $313,000 after purchasing an additional 3,526 shares during the period. Vanguard Group Inc. grew its position in Chatham Lodging Trust by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,779,061 shares of the real estate investment trust’s stock worth $55,306,000 after purchasing an additional 21,758 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Chatham Lodging Trust by 5.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 94,910 shares of the real estate investment trust’s stock worth $908,000 after purchasing an additional 5,282 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of Chatham Lodging Trust by 6.8% during the fourth quarter. SG Americas Securities LLC now owns 28,577 shares of the real estate investment trust’s stock valued at $306,000 after buying an additional 1,825 shares during the last quarter. 88.37% of the stock is owned by institutional investors and hedge funds.

About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,915 rooms/suites in 16 states and the District of Columbia.