Goldman Sachs Group Inc. grew its stake in Chatham Lodging Trust (NYSE:CLDT) by 91.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 223,872 shares of the real estate investment trust’s stock after buying an additional 107,131 shares during the period. Goldman Sachs Group Inc.’s holdings in Chatham Lodging Trust were worth $5,095,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of CLDT. Schroder Investment Management Group acquired a new stake in Chatham Lodging Trust during the 3rd quarter worth $112,000. Advisor Group Inc. boosted its stake in Chatham Lodging Trust by 91.0% during the 4th quarter. Advisor Group Inc. now owns 7,652 shares of the real estate investment trust’s stock worth $174,000 after purchasing an additional 3,645 shares during the period. Aperio Group LLC acquired a new stake in Chatham Lodging Trust during the 4th quarter worth $223,000. BlueCrest Capital Management Ltd acquired a new stake in Chatham Lodging Trust during the 4th quarter worth $257,000. Finally, SG Americas Securities LLC acquired a new stake in Chatham Lodging Trust during the 3rd quarter worth $278,000. Institutional investors and hedge funds own 88.61% of the company’s stock.
Shares of Chatham Lodging Trust stock opened at $19.18 on Friday. The firm has a market cap of $895.34, a price-to-earnings ratio of 8.96 and a beta of 1.07. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.66. Chatham Lodging Trust has a one year low of $17.90 and a one year high of $23.91.
The company also recently disclosed a monthly dividend, which will be paid on Friday, April 27th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.32 dividend on an annualized basis and a yield of 6.88%. Chatham Lodging Trust’s payout ratio is currently 61.68%.
A number of brokerages recently weighed in on CLDT. Stifel Nicolaus reiterated a “hold” rating and set a $20.00 price target on shares of Chatham Lodging Trust in a research note on Tuesday, February 27th. Barclays decreased their price target on shares of Chatham Lodging Trust from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 27th. Cantor Fitzgerald set a $20.00 price target on shares of Chatham Lodging Trust and gave the stock a “hold” rating in a research note on Thursday, March 1st. Zacks Investment Research cut shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, B. Riley cut their price objective on shares of Chatham Lodging Trust from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $21.00.
In related news, Chairman Jeffrey H. Fisher purchased 5,500 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was acquired at an average price of $18.48 per share, for a total transaction of $101,640.00. Following the acquisition, the chairman now directly owns 691,545 shares of the company’s stock, valued at approximately $12,779,751.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Dennis M. Craven purchased 2,215 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was bought at an average price of $18.35 per share, with a total value of $40,645.25. Following the acquisition, the chief operating officer now directly owns 85,943 shares in the company, valued at $1,577,054.05. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 14,715 shares of company stock valued at $270,485. 3.60% of the stock is owned by insiders.
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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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