Chatham Lodging Trust (NYSE:CLDT) Cut to “Hold” at StockNews.com

StockNews.com downgraded shares of Chatham Lodging Trust (NYSE:CLDT) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

Separately, Alliance Global Partners assumed coverage on shares of Chatham Lodging Trust in a research report on Wednesday, December 11th. They issued a “buy” rating and a $12.00 target price for the company.

Chatham Lodging Trust Trading Down 1.1 %

NYSE:CLDT opened at $7.22 on Wednesday. The stock has a market cap of $353.70 million, a price-to-earnings ratio of -31.39 and a beta of 1.82. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 0.96. Chatham Lodging Trust has a 1 year low of $7.17 and a 1 year high of $10.16. The business has a fifty day moving average of $8.22 and a 200-day moving average of $8.60.

Chatham Lodging Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Monday, March 31st. Chatham Lodging Trust’s dividend payout ratio is presently -450.00%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Donald Smith & CO. Inc. lifted its holdings in Chatham Lodging Trust by 30.7% in the 4th quarter. Donald Smith & CO. Inc. now owns 4,497,679 shares of the real estate investment trust’s stock valued at $40,254,000 after acquiring an additional 1,055,999 shares during the last quarter. Adage Capital Partners GP L.L.C. bought a new stake in shares of Chatham Lodging Trust in the 4th quarter worth approximately $5,738,000. JPMorgan Chase & Co. lifted its stake in Chatham Lodging Trust by 53.4% during the fourth quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust’s stock valued at $8,685,000 after purchasing an additional 337,842 shares during the last quarter. Repertoire Partners LP bought a new stake in Chatham Lodging Trust during the third quarter worth approximately $2,556,000. Finally, Bank of Montreal Can bought a new stake in Chatham Lodging Trust during the third quarter worth approximately $2,162,000. Institutional investors own 88.37% of the company’s stock.

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.