Boston Partners lowered its position in Chatham Lodging Trust (NYSE:CLDT) by 39.9% in the fourth quarter, Holdings Channel reports. The fund owned 675,476 shares of the real estate investment trust’s stock after selling 449,071 shares during the period. Boston Partners’ holdings in Chatham Lodging Trust were worth $15,374,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Schroder Investment Management Group purchased a new position in Chatham Lodging Trust in the third quarter worth approximately $112,000. Teachers Retirement System of The State of Kentucky purchased a new position in Chatham Lodging Trust in the second quarter worth approximately $167,000. Eqis Capital Management Inc. acquired a new stake in Chatham Lodging Trust during the third quarter worth approximately $251,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Chatham Lodging Trust during the second quarter worth approximately $239,000. Finally, SG Americas Securities LLC acquired a new stake in Chatham Lodging Trust during the third quarter worth approximately $278,000. Institutional investors own 77.20% of the company’s stock.
CLDT has been the topic of a number of research analyst reports. Barclays reissued a “hold” rating and set a $23.00 price objective on shares of Chatham Lodging Trust in a report on Friday, December 15th. Zacks Investment Research cut shares of Chatham Lodging Trust from a “buy” rating to a “sell” rating in a report on Tuesday, November 14th. BidaskClub cut shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a report on Monday, October 23rd. Finally, B. Riley reissued a “neutral” rating on shares of Chatham Lodging Trust in a report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $21.25.
The business also recently disclosed a monthly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Wednesday, January 31st will be issued a dividend of $0.11 per share. The ex-dividend date is Tuesday, January 30th. This represents a $1.32 dividend on an annualized basis and a yield of 6.47%. Chatham Lodging Trust’s payout ratio is currently 194.12%.
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Chatham Lodging Trust Profile
Chatham Lodging Trust is a real estate investment trust. The Company invests primarily in upscale extended-stay and premium-branded select-service hotels. All of the Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P. (the Operating Partnership). The Company owned 41 hotels with an aggregate of 6,163 rooms located in 16 states and the District of Columbia.
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