Bank of New York Mellon Corp Cuts Stock Position in Chatham Lodging Trust (NYSE:CLDT)

Bank of New York Mellon Corp trimmed its stake in Chatham Lodging Trust (NYSE:CLDT - Free Report) by 29.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,623 shares of the real estate investment trust's stock after selling 74,406 shares during the period. Bank of New York Mellon Corp owned approximately 0.37% of Chatham Lodging Trust worth $1,626,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ballentine Partners LLC bought a new stake in Chatham Lodging Trust during the fourth quarter worth about $102,000. Pensionfund Sabic boosted its stake in Chatham Lodging Trust by 66.7% in the fourth quarter. Pensionfund Sabic now owns 15,000 shares of the real estate investment trust's stock worth $134,000 after buying an additional 6,000 shares in the last quarter. SG Americas Securities LLC grew its position in Chatham Lodging Trust by 15.1% during the fourth quarter. SG Americas Securities LLC now owns 24,942 shares of the real estate investment trust's stock valued at $223,000 after acquiring an additional 3,264 shares during the last quarter. FMR LLC lifted its holdings in shares of Chatham Lodging Trust by 59.5% in the 3rd quarter. FMR LLC now owns 42,567 shares of the real estate investment trust's stock worth $363,000 after acquiring an additional 15,877 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in shares of Chatham Lodging Trust by 9.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 61,900 shares of the real estate investment trust's stock valued at $527,000 after purchasing an additional 5,500 shares in the last quarter. 88.37% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several research firms have weighed in on CLDT. StockNews.com downgraded shares of Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research note on Wednesday. Alliance Global Partners began coverage on Chatham Lodging Trust in a report on Wednesday, December 11th. They set a "buy" rating and a $12.00 target price for the company.

Chatham Lodging Trust Trading Down 0.1 %

CLDT traded down $0.01 during trading on Wednesday, hitting $7.39. 211,577 shares of the stock traded hands, compared to its average volume of 379,207. The firm has a market capitalization of $361.68 million, a P/E ratio of -32.11 and a beta of 1.82. Chatham Lodging Trust has a 12-month low of $7.26 and a 12-month high of $10.22. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a 50-day moving average of $8.31 and a 200 day moving average of $8.63.

Chatham Lodging Trust Cuts Dividend

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

Chatham Lodging Trust Profile

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.