Chatham Lodging Trust (NYSE:CLDT) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Chatham Lodging Trust (NYSE:CLDT) from a buy rating to a hold rating in a research note released on Wednesday morning.

Separately, Alliance Global Partners assumed 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 on the stock.

Chatham Lodging Trust Trading Down 0.1 %

Shares of CLDT opened at $7.39 on Wednesday. Chatham Lodging Trust has a 52-week low of $7.26 and a 52-week high of $10.22. The stock has a market cap of $361.68 million, a PE ratio of -32.11 and a beta of 1.82. 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’s fifty day moving average is $8.28 and its two-hundred day moving average is $8.62.

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 dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.08 annualized dividend and a dividend yield of 1.08%. Chatham Lodging Trust’s dividend payout ratio is currently -450.00%.

Hedge Funds Weigh In On Chatham Lodging Trust

Several hedge funds have recently made changes to their positions in the company. Donald Smith & CO. Inc. grew its holdings in shares of Chatham Lodging Trust by 30.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,497,679 shares of the real estate investment trust’s stock worth $40,254,000 after buying an additional 1,055,999 shares during the last quarter. State Street Corp grew its position in shares of Chatham Lodging Trust by 1.1% in the third quarter. State Street Corp now owns 1,634,114 shares of the real estate investment trust’s stock valued at $14,036,000 after purchasing an additional 17,428 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Chatham Lodging Trust by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,285,326 shares of the real estate investment trust’s stock worth $10,953,000 after purchasing an additional 26,129 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Chatham Lodging Trust by 53.4% in the 4th quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust’s stock valued at $8,685,000 after purchasing an additional 337,842 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Chatham Lodging Trust by 9.5% during the fourth quarter. Bank of America Corp DE now owns 682,486 shares of the real estate investment trust’s stock worth $6,108,000 after buying an additional 58,943 shares in the last quarter. Hedge funds and other institutional investors own 88.37% of the company’s stock.

About Chatham Lodging Trust

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.