Jennison Associates LLC Trims Stake in Chatham Lodging Trust (REIT) (CLDT)

Jennison Associates LLC lowered its holdings in shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) by 22.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,770,577 shares of the real estate investment trust’s stock after selling 509,674 shares during the quarter. Jennison Associates LLC owned approximately 4.39% of Chatham Lodging Trust (REIT) worth $37,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CLDT. Northern Trust Corp increased its position in shares of Chatham Lodging Trust (REIT) by 65.7% during the 2nd quarter. Northern Trust Corp now owns 1,078,405 shares of the real estate investment trust’s stock valued at $21,665,000 after purchasing an additional 427,418 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Chatham Lodging Trust (REIT) by 8.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,927,364 shares of the real estate investment trust’s stock valued at $98,990,000 after purchasing an additional 376,788 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Chatham Lodging Trust (REIT) during the 2nd quarter valued at about $5,861,000. Bank of New York Mellon Corp increased its position in shares of Chatham Lodging Trust (REIT) by 90.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 610,776 shares of the real estate investment trust’s stock valued at $12,270,000 after purchasing an additional 289,400 shares during the last quarter. Finally, State Street Corp increased its position in shares of Chatham Lodging Trust (REIT) by 28.5% during the 2nd quarter. State Street Corp now owns 1,133,956 shares of the real estate investment trust’s stock valued at $22,774,000 after purchasing an additional 251,188 shares during the last quarter. 76.69% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently commented on CLDT. Zacks Investment Research lowered shares of Chatham Lodging Trust (REIT) from a “buy” rating to a “sell” rating in a research report on Tuesday. BidaskClub raised shares of Chatham Lodging Trust (REIT) from a “hold” rating to a “buy” rating in a research report on Thursday, November 9th. Barclays PLC reaffirmed a “hold” rating on shares of Chatham Lodging Trust (REIT) in a research report on Sunday, November 5th. B. Riley reissued a “neutral” rating on shares of Chatham Lodging Trust (REIT) in a report on Thursday, November 2nd. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $20.00 target price on shares of Chatham Lodging Trust (REIT) in a report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $21.08.

Chatham Lodging Trust (NYSE:CLDT) traded down $0.10 during trading on Wednesday, reaching $22.72. 291,900 shares of the company traded hands, compared to its average volume of 326,490. The stock has a market cap of $1,035.40, a price-to-earnings ratio of 10.19 and a beta of 1.03. Chatham Lodging Trust has a one year low of $18.66 and a one year high of $23.27. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 0.86.

Chatham Lodging Trust (REIT) (NYSE:CLDT) last released its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.01. The company had revenue of $81.40 million during the quarter, compared to analyst estimates of $80.12 million. Chatham Lodging Trust (REIT) had a net margin of 9.03% and a return on equity of 3.90%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.71 EPS. analysts predict that Chatham Lodging Trust will post 2.16 EPS for the current fiscal year.

The company also recently announced a monthly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, November 30th will be issued a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 5.81%. The ex-dividend date of this dividend is Wednesday, November 29th. Chatham Lodging Trust (REIT)’s dividend payout ratio is 194.12%.

TRADEMARK VIOLATION NOTICE: This piece of content was published by Week Herald and is owned by of Week Herald. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://weekherald.com/2017/11/15/jennison-associates-llc-trims-stake-in-chatham-lodging-trust-reit-cldt.html.

About Chatham Lodging Trust (REIT)

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). As of December 31, 2016, the Company owned 38 hotels with an aggregate of 5,712 rooms located in 15 states and the District of Columbia.

Institutional Ownership by Quarter for Chatham Lodging Trust (REIT) (NYSE:CLDT)

Receive News & Ratings for Chatham Lodging Trust (REIT) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chatham Lodging Trust (REIT) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply