Donald Smith & CO. Inc. Buys 1,055,999 Shares of Chatham Lodging Trust (NYSE:CLDT)

Donald Smith & CO. Inc. grew its position in Chatham Lodging Trust (NYSE:CLDT - Free Report) by 30.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,497,679 shares of the real estate investment trust's stock after purchasing an additional 1,055,999 shares during the period. Donald Smith & CO. Inc. owned approximately 9.20% of Chatham Lodging Trust worth $40,254,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Chatham Lodging Trust in the fourth quarter valued at $25,000. KLP Kapitalforvaltning AS acquired a new position in shares of Chatham Lodging Trust during the 4th quarter worth about $68,000. Ballentine Partners LLC bought a new position in shares of Chatham Lodging Trust in the 4th quarter valued at about $102,000. Pensionfund Sabic increased its position in shares of 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 valued at $134,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in Chatham Lodging Trust during the fourth quarter worth about $155,000. 88.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CLDT shares. StockNews.com downgraded Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Alliance Global Partners began coverage on shares of Chatham Lodging Trust in a research note on Wednesday, December 11th. They issued a "buy" rating and a $12.00 target price for the company.

Chatham Lodging Trust Stock Performance

Shares of CLDT stock traded up $0.04 on Tuesday, reaching $6.29. The stock had a trading volume of 180,332 shares, compared to its average volume of 344,074. Chatham Lodging Trust has a 12 month low of $5.86 and a 12 month high of $10.16. 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 firm has a market capitalization of $307.85 million, a price-to-earnings ratio of -27.32 and a beta of 1.49. The firm's 50-day moving average is $7.98 and its two-hundred day moving average is $8.54.

Chatham Lodging Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given 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 1.27%. Chatham Lodging Trust's payout ratio is -450.00%.

Chatham Lodging Trust Company 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.