Cornercap Investment Counsel Inc. bought a new position in Chatham Lodging Trust (NYSE:CLDT) in the 4th quarter, HoldingsChannel reports. The fund bought 33,205 shares of the real estate investment trust’s stock, valued at approximately $756,000.
A number of other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Chatham Lodging Trust by 23.1% in the 4th quarter. BlackRock Inc. now owns 7,140,632 shares of the real estate investment trust’s stock worth $162,524,000 after buying an additional 1,337,717 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Chatham Lodging Trust by 0.5% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 3,325,682 shares of the real estate investment trust’s stock worth $70,904,000 after buying an additional 17,912 shares during the period. State Street Corp boosted its holdings in Chatham Lodging Trust by 28.5% in the 2nd quarter. State Street Corp now owns 1,133,956 shares of the real estate investment trust’s stock worth $22,774,000 after buying an additional 251,188 shares during the period. Boston Partners boosted its holdings in Chatham Lodging Trust by 3.1% in the 3rd quarter. Boston Partners now owns 1,124,547 shares of the real estate investment trust’s stock worth $23,975,000 after buying an additional 33,450 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Chatham Lodging Trust by 77.6% in the 4th quarter. Renaissance Technologies LLC now owns 957,800 shares of the real estate investment trust’s stock worth $21,800,000 after buying an additional 418,400 shares during the period. 88.61% of the stock is owned by institutional investors.
Chatham Lodging Trust (NYSE CLDT) opened at $19.45 on Wednesday. Chatham Lodging Trust has a 1-year low of $17.90 and a 1-year high of $23.91. The company has a market cap of $896.71, a PE ratio of 26.64 and a beta of 1.16. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.66.
The business also recently disclosed a monthly dividend, which will be paid on Friday, April 27th. Shareholders of record on Thursday, March 29th will be issued a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 6.79%. The ex-dividend date is Wednesday, March 28th. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 180.82%.
In other Chatham Lodging Trust news, Chairman Jeffrey H. Fisher purchased 5,500 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average price of $18.48 per share, with a total value of $101,640.00. Following the acquisition, the chairman now owns 691,545 shares in the company, valued at $12,779,751.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director C Gerald Goldsmith purchased 5,000 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was acquired at an average cost of $18.32 per share, with a total value of $91,600.00. Following the acquisition, the director now owns 26,328 shares in the company, valued at approximately $482,328.96. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 14,715 shares of company stock valued at $270,485. 3.60% of the stock is owned by insiders.
CLDT has been the subject of several recent analyst reports. Barclays reaffirmed a “hold” rating and issued a $23.00 target price on shares of Chatham Lodging Trust in a report on Friday, December 15th. Zacks Investment Research downgraded shares of Chatham Lodging Trust from a “buy” rating to a “sell” rating in a report on Tuesday, November 14th. B. Riley dropped their target price on shares of Chatham Lodging Trust from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. Cantor Fitzgerald set a $20.00 target price on shares of Chatham Lodging Trust and gave the stock a “hold” rating in a report on Thursday, March 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $20.00 target price on shares of Chatham Lodging Trust in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Chatham Lodging Trust has a consensus rating of “Hold” and a consensus price target of $21.00.
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Chatham Lodging Trust Company Profile
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). The Company owned 41 hotels with an aggregate of 6,163 rooms located in 16 states and the District of Columbia.
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