JPMorgan Chase & Co. Raises Stake in Chatham Lodging Trust (NYSE:CLDT)

JPMorgan Chase & Co. grew its stake in Chatham Lodging Trust (NYSE:CLDT - Free Report) by 53.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 970,392 shares of the real estate investment trust's stock after acquiring an additional 337,842 shares during the quarter. JPMorgan Chase & Co. owned about 1.98% of Chatham Lodging Trust worth $8,685,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EntryPoint Capital LLC purchased a new position in Chatham Lodging Trust during the fourth quarter worth approximately $222,000. Prudential Financial Inc. raised its holdings in shares of Chatham Lodging Trust by 13.2% in the 4th quarter. Prudential Financial Inc. now owns 202,132 shares of the real estate investment trust's stock valued at $1,809,000 after buying an additional 23,511 shares during the period. Fox Run Management L.L.C. purchased a new position in Chatham Lodging Trust in the 4th quarter valued at approximately $240,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Chatham Lodging Trust during the fourth quarter worth approximately $68,000. Finally, Quantbot Technologies LP purchased a new stake in Chatham Lodging Trust during the 4th quarter worth about $25,000. Hedge funds and other institutional investors own 88.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CLDT. Stifel Nicolaus reduced their price objective on Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating for the company in a research note on Wednesday. StockNews.com lowered shares of Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th.

Chatham Lodging Trust Price Performance

NYSE CLDT traded down $0.06 during mid-day trading on Friday, hitting $6.82. The stock had a trading volume of 427,043 shares, compared to its average volume of 416,469. The company has a 50 day simple moving average of $7.54 and a 200 day simple moving average of $8.39. 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 company has a market cap of $333.91 million, a price-to-earnings ratio of -29.64 and a beta of 1.49. Chatham Lodging Trust has a 52-week low of $5.83 and a 52-week high of $10.00.

Chatham Lodging Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Monday, March 31st. Chatham Lodging Trust's dividend payout ratio (DPR) 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.