Alliancebernstein L.P. Lowers Position in Chatham Lodging Trust (NYSE:CLDT)

Alliancebernstein L.P. reduced its position in shares of Chatham Lodging Trust (NYSE:CLDT) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,499 shares of the real estate investment trust’s stock after selling 4,779 shares during the period. Alliancebernstein L.P.’s holdings in Chatham Lodging Trust were worth $425,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Chatham Lodging Trust by 53.4% during the fourth quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust’s stock valued at $8,685,000 after acquiring an additional 337,842 shares in the last quarter. Thrivent Financial for Lutherans purchased a new position in shares of Chatham Lodging Trust during the 4th quarter valued at $1,273,000. Barclays PLC increased its holdings in shares of Chatham Lodging Trust by 76.1% in the third quarter. Barclays PLC now owns 282,195 shares of the real estate investment trust’s stock worth $2,404,000 after purchasing an additional 121,920 shares during the period. Y Intercept Hong Kong Ltd raised its position in shares of Chatham Lodging Trust by 100.6% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 93,352 shares of the real estate investment trust’s stock worth $836,000 after buying an additional 46,820 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in Chatham Lodging Trust during the fourth quarter valued at $388,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CLDT shares. Stifel Nicolaus cut their target price on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating for the company in a research report on Wednesday, April 16th. StockNews.com cut Chatham Lodging Trust from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th.

Chatham Lodging Trust Trading Down 0.9 %

Shares of NYSE:CLDT opened at $6.82 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96. Chatham Lodging Trust has a 1 year low of $5.83 and a 1 year high of $10.00. The company has a market cap of $333.91 million, a P/E ratio of -29.64 and a beta of 1.49. The stock’s fifty day moving average price is $7.51 and its 200-day moving average price is $8.38.

Chatham Lodging Trust Cuts Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date was Monday, March 31st. Chatham Lodging Trust’s dividend 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.