Bank of New York Mellon Corp Sells 74,406 Shares of Chatham Lodging Trust (NYSE:CLDT)

Bank of New York Mellon Corp decreased its holdings in shares of Chatham Lodging Trust (NYSE:CLDT) by 29.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 181,623 shares of the real estate investment trust’s stock after selling 74,406 shares during the quarter. Bank of New York Mellon Corp’s holdings in Chatham Lodging Trust were worth $1,626,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd boosted its stake in Chatham Lodging Trust by 100.6% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 93,352 shares of the real estate investment trust’s stock valued at $836,000 after purchasing an additional 46,820 shares during the period. Asset Management One Co. Ltd. boosted its stake in Chatham Lodging Trust by 8.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 75,660 shares of the real estate investment trust’s stock valued at $679,000 after purchasing an additional 5,703 shares during the period. SG Americas Securities LLC boosted its stake in Chatham Lodging Trust by 15.1% during the 4th quarter. SG Americas Securities LLC now owns 24,942 shares of the real estate investment trust’s stock valued at $223,000 after purchasing an additional 3,264 shares during the period. Ballentine Partners LLC bought a new stake in Chatham Lodging Trust during the 4th quarter valued at approximately $102,000. Finally, Pensionfund Sabic boosted its stake in Chatham Lodging Trust by 66.7% during the 4th quarter. Pensionfund Sabic now owns 15,000 shares of the real estate investment trust’s stock valued at $134,000 after purchasing an additional 6,000 shares during the period. Institutional investors own 88.37% of the company’s stock.

Chatham Lodging Trust Trading Down 2.9 %

Chatham Lodging Trust stock opened at $7.42 on Friday. The business has a 50 day moving average price of $8.36 and a two-hundred day moving average price of $8.64. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. The stock has a market cap of $363.15 million, a price-to-earnings ratio of -32.24 and a beta of 1.82. Chatham Lodging Trust has a 12 month low of $7.26 and a 12 month high of $10.27.

Chatham Lodging Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.02 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.08%. Chatham Lodging Trust’s payout ratio is presently -450.00%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Alliance Global Partners assumed coverage on Chatham Lodging Trust in a report on Wednesday, December 11th. They issued a “buy” rating and a $12.00 price target for the company. StockNews.com raised Chatham Lodging Trust from a “hold” rating to a “buy” rating in a report on Tuesday, March 18th.

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.