JPMorgan Chase & Co. Acquires 308,883 Shares of Chatham Lodging Trust (NYSE:CLDT)

JPMorgan Chase & Co. grew its stake in shares of Chatham Lodging Trust (NYSE:CLDT - Free Report) by 95.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 632,550 shares of the real estate investment trust's stock after buying an additional 308,883 shares during the period. JPMorgan Chase & Co. owned approximately 1.29% of Chatham Lodging Trust worth $5,389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Donald Smith & CO. Inc. grew its holdings in shares of Chatham Lodging Trust by 3.3% in the 3rd quarter. Donald Smith & CO. Inc. now owns 3,441,680 shares of the real estate investment trust's stock valued at $29,323,000 after buying an additional 111,461 shares during the period. State Street Corp lifted its holdings in Chatham Lodging Trust by 1.1% during the third quarter. State Street Corp now owns 1,634,114 shares of the real estate investment trust's stock worth $14,036,000 after acquiring an additional 17,428 shares in the last quarter. Millennium Management LLC grew its stake in Chatham Lodging Trust by 1,241.7% in the second quarter. Millennium Management LLC now owns 1,414,852 shares of the real estate investment trust's stock valued at $12,055,000 after acquiring an additional 1,309,396 shares during the period. Geode Capital Management LLC increased its holdings in shares of Chatham Lodging Trust by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,285,326 shares of the real estate investment trust's stock worth $10,953,000 after acquiring an additional 26,129 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Chatham Lodging Trust by 1.0% during the second quarter. Renaissance Technologies LLC now owns 957,275 shares of the real estate investment trust's stock worth $8,156,000 after purchasing an additional 9,200 shares during the period. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Alliance Global Partners began coverage on Chatham Lodging Trust in a research note on Wednesday, December 11th. They set a "buy" rating and a $12.00 target price for the company.

Chatham Lodging Trust Stock Up 0.3 %

NYSE CLDT traded up $0.02 on Friday, reaching $8.81. The company had a trading volume of 341,573 shares, compared to its average volume of 257,043. The company's fifty day moving average is $9.14 and its 200-day moving average is $8.68. Chatham Lodging Trust has a 1-year low of $7.60 and a 1-year high of $11.10. The firm has a market capitalization of $431.04 million, a price-to-earnings ratio of -38.32 and a beta of 1.81. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.18%. Chatham Lodging Trust's payout ratio is presently -121.73%.

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.