Chatham Lodging Trust (NYSE:CLDT) Stock Position Lifted by New York Life Investment Management LLC

Posted by Defense World Staff on Jun 4th, 2023

New York Life Investment Management LLC lifted its holdings in Chatham Lodging Trust (NYSE:CLDT – Get Rating) by 12.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 41,138 shares of the real estate investment trust’s stock after purchasing an additional 4,637 shares during the quarter. New York Life Investment Management LLC owned 0.08% of Chatham Lodging Trust worth $505,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Lazard Asset Management LLC acquired a new stake in shares of Chatham Lodging Trust in the first quarter valued at $29,000. Tower Research Capital LLC TRC lifted its holdings in shares of Chatham Lodging Trust by 94.6% in 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 buying an additional 1,630 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Chatham Lodging Trust in the second quarter valued at $51,000. UBS Group AG lifted its holdings in shares of 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 valued at $87,000 after buying an additional 5,391 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of 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 buying an additional 1,513 shares during the period. Institutional investors own 84.97% of the company’s stock.

Chatham Lodging Trust Stock Up 6.1 %

Shares of Chatham Lodging Trust stock opened at $9.84 on Friday. The stock has a 50-day moving average price of $10.06 and a 200 day moving average price of $11.69. The company has a market cap of $480.74 million, a P/E ratio of 70.29 and a beta of 1.79. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.49. Chatham Lodging Trust has a 1 year low of $9.18 and a 1 year high of $14.38.

Chatham Lodging Trust Cuts Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, April 17th. Investors of record on Friday, March 31st were paid a $0.07 dividend. This represents a $0.84 annualized dividend and a yield of 8.54%. The ex-dividend date of this dividend was Thursday, March 30th. Chatham Lodging Trust’s dividend payout ratio is currently 200.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. StockNews.com began coverage on Chatham Lodging Trust in a report on Thursday, May 18th. They issued a “hold” rating for the company. Oppenheimer reduced their target price on Chatham Lodging Trust from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, February 28th. Finally, B. Riley reduced their target price on Chatham Lodging Trust from $16.00 to $15.00 in a report on Monday, May 8th.

Insider Buying and Selling

In other Chatham Lodging Trust news, Director Edwin B. Brewer, Jr. acquired 8,800 shares of Chatham Lodging Trust stock in a transaction that occurred on Thursday, June 1st. The stock was purchased at an average cost of $18.95 per share, with a total value of $166,760.00. Following the purchase, the director now owns 18,800 shares in the company, valued at $356,260. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jeffrey H. Fisher acquired 10,000 shares of the stock in a transaction dated 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 acquisition, the chief executive officer now owns 611,545 shares in the company, valued at approximately $6,286,682.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Edwin B. Brewer, Jr. acquired 8,800 shares of the stock in a transaction dated Thursday, June 1st. The shares were bought at an average cost of $18.95 per share, for a total transaction of $166,760.00. Following the acquisition, the director now owns 18,800 shares in the company, valued at approximately $356,260. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 19,800 shares of company stock valued at $279,530. Corporate insiders own 5.20% of the company’s stock.

About Chatham Lodging Trust

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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.