Chatham Lodging Trust (NYSE:CLDT) Shares Sold by Shell Asset Management Co.

Posted by Defense World Staff on May 9th, 2023

Shell Asset Management Co. cut its holdings in shares of Chatham Lodging Trust (NYSE:CLDT – Get Rating) by 16.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,580 shares of the real estate investment trust’s stock after selling 4,380 shares during the period. Shell Asset Management Co.’s holdings in Chatham Lodging Trust were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CLDT. Lazard Asset Management LLC acquired a new stake in shares of Chatham Lodging Trust in the 1st quarter worth approximately $29,000. Tower Research Capital LLC TRC grew its stake in shares of Chatham Lodging Trust by 94.6% during the third quarter. Tower Research Capital LLC TRC now owns 3,353 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,630 shares in the last quarter. Captrust Financial Advisors acquired a new stake in shares of Chatham Lodging Trust during the second quarter valued at about $51,000. UBS Group AG grew its stake in Chatham Lodging Trust by 156.3% in the third quarter. UBS Group AG now owns 8,840 shares of the real estate investment trust’s stock worth $87,000 after purchasing an additional 5,391 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in Chatham Lodging Trust by 18.5% in the third quarter. Mutual of America Capital Management LLC now owns 9,710 shares of the real estate investment trust’s stock valued at $96,000 after acquiring an additional 1,513 shares during the period. Institutional investors and hedge funds own 84.97% of the company’s stock.

Analyst Upgrades and Downgrades

CLDT has been the topic of a number of recent analyst reports. StockNews.com began coverage on Chatham Lodging Trust in a report on Thursday, March 16th. They set a “hold” rating on the stock. Oppenheimer lowered their price target on shares of Chatham Lodging Trust from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, February 28th. Finally, B. Riley reduced their price objective on shares of Chatham Lodging Trust from $16.00 to $15.00 in a research note on Monday.

Chatham Lodging Trust Stock Down 1.9 %

Shares of CLDT opened at $10.04 on Tuesday. The company has a 50-day simple moving average of $10.53 and a 200-day simple moving average of $12.06. The firm has a market capitalization of $490.45 million, a P/E ratio of 71.71 and a beta of 1.80. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.76 and a current ratio of 1.51. Chatham Lodging Trust has a 52 week low of $9.34 and a 52 week high of $14.38.

Chatham Lodging Trust Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, April 17th. Investors of record on Friday, March 31st were paid a $0.07 dividend. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $0.84 dividend on an annualized basis and a yield of 8.37%. Chatham Lodging Trust’s payout ratio is currently 200.00%.

Insider Activity at Chatham Lodging Trust

In other Chatham Lodging Trust news, CEO Jeffrey H. Fisher bought 10,000 shares of the stock in a transaction that occurred on Thursday, March 16th. The shares were acquired at an average price of $10.28 per share, with a total value of $102,800.00. Following the completion of the purchase, the chief executive officer now directly owns 611,545 shares in the company, valued at approximately $6,286,682.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.20% of the stock is currently owned by insiders.

Chatham Lodging Trust Company Profile

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Chatham Lodging Trust engages in the acquisition and investment in hotel properties. It focuses on the upscale extended-stay and premium branded select-service hotels. The firm’s management evaluates the company’s hotels as a single industry segment because all of the hotels have similar economic characteristics and provide similar services to similar types of customers.