Prudential Financial Inc. Cuts Stock Position in Chatham Lodging Trust (NYSE:CLDT)
Prudential Financial Inc. cut its holdings in shares of Chatham Lodging Trust (NYSE:CLDT) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 423,797 shares of the real estate investment trust’s stock after selling 26,640 shares during the quarter. Prudential Financial Inc.’s holdings in Chatham Lodging Trust were worth $7,998,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of CLDT. Steward Partners Investment Advisory LLC bought a new position in shares of Chatham Lodging Trust during the second quarter worth $25,000. Aperio Group LLC purchased a new position in shares of Chatham Lodging Trust during the second quarter valued at about $135,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of Chatham Lodging Trust by 14.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,433 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 1,169 shares during the last quarter. Menta Capital LLC bought a new stake in shares of Chatham Lodging Trust in the second quarter worth about $189,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Chatham Lodging Trust by 47.3% in the first quarter. BNP Paribas Arbitrage SA now owns 10,209 shares of the real estate investment trust’s stock worth $196,000 after buying an additional 3,280 shares in the last quarter. 85.11% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts recently commented on the company. Zacks Investment Research lowered Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. ValuEngine downgraded Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. B. Riley decreased their price objective on Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Barclays set a $18.00 price objective on Chatham Lodging Trust and gave the stock a “hold” rating in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $19.00.
The firm also recently disclosed a monthly dividend, which will be paid on Friday, October 25th. Shareholders of record on Monday, September 30th will be paid a $0.11 dividend. The ex-dividend date is Friday, September 27th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.15%. Chatham Lodging Trust’s payout ratio is currently 67.69%.
In other Chatham Lodging Trust news, Director Robert D. Perlmutter bought 2,500 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were purchased at an average cost of $16.40 per share, for a total transaction of $41,000.00. Following the transaction, the director now owns 45,666 shares of the company’s stock, valued at $748,922.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.60% of the company’s stock.
Chatham Lodging Trust Company Profile
Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 137 hotels totaling 18,783 rooms/suites, comprised of 42 properties it wholly owns with an aggregate of 6,283 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,500 rooms/suites.
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