Magnetar Financial LLC purchased a new position in Chatham Lodging Trust (NYSE:CLDT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 43,376 shares of the real estate investment trust's stock, valued at approximately $388,000. Magnetar Financial LLC owned 0.09% of Chatham Lodging Trust at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ballentine Partners LLC acquired a new position in shares of Chatham Lodging Trust during the fourth quarter valued at approximately $102,000. Pensionfund Sabic lifted its position in Chatham Lodging Trust by 66.7% during 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. Intech Investment Management LLC acquired a new position in shares of Chatham Lodging Trust during the 4th quarter valued at about $155,000. Mesirow Financial Investment Management Inc. acquired a new position in Chatham Lodging Trust in the 4th quarter valued at about $209,000. Finally, SG Americas Securities LLC lifted its stake in shares of Chatham Lodging Trust by 15.1% in the 4th quarter. SG Americas Securities LLC now owns 24,942 shares of the real estate investment trust's stock valued at $223,000 after purchasing an additional 3,264 shares during the last quarter. Hedge funds and other institutional investors own 88.37% of the company's stock.
Chatham Lodging Trust Stock Performance
Chatham Lodging Trust stock traded down $0.10 during midday trading on Thursday, hitting $7.30. 246,964 shares of the company's stock were exchanged, compared to its average volume of 379,734. The firm's 50 day simple moving average is $8.28 and its 200 day simple moving average is $8.62. Chatham Lodging Trust has a 12-month low of $7.24 and a 12-month high of $10.22. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $357.27 million, a price-to-earnings ratio of -31.72 and a beta of 1.82.
Chatham Lodging Trust Cuts Dividend
The company also recently announced 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 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend is Monday, March 31st. Chatham Lodging Trust's dividend payout ratio (DPR) is presently -450.00%.
Analysts Set New Price Targets
CLDT has been the subject of a number of recent analyst reports. Alliance Global Partners initiated coverage on shares of Chatham Lodging Trust in a research report on Wednesday, December 11th. They set a "buy" rating and a $12.00 price target for the company. StockNews.com downgraded Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research report on Wednesday.
Get Our Latest Research Report on Chatham Lodging Trust
Chatham Lodging Trust Company Profile
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Free Report)
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.
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