Adage Capital Partners GP L.L.C. Buys New Shares in Chatham Lodging Trust (NYSE:CLDT)

Adage Capital Partners GP L.L.C. bought a new stake in shares of Chatham Lodging Trust (NYSE:CLDT - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 641,087 shares of the real estate investment trust's stock, valued at approximately $5,738,000. Adage Capital Partners GP L.L.C. owned approximately 1.31% of Chatham Lodging Trust at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CLDT. Quantbot Technologies LP purchased a new position in shares of Chatham Lodging Trust during the 4th quarter valued at approximately $25,000. KLP Kapitalforvaltning AS purchased a new position in Chatham Lodging Trust during the fourth quarter valued at $68,000. Ballentine Partners LLC acquired a new stake in shares of Chatham Lodging Trust in the fourth quarter valued at about $102,000. Pensionfund Sabic increased its stake in shares of Chatham Lodging Trust by 66.7% during the fourth quarter. Pensionfund Sabic now owns 15,000 shares of the real estate investment trust's stock worth $134,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Chatham Lodging Trust during the 4th quarter worth about $155,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on CLDT. Stifel Nicolaus cut their price objective on Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating for the company in a research note on Wednesday, April 16th. StockNews.com cut Chatham Lodging Trust from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th.

Chatham Lodging Trust Price Performance

CLDT traded up $0.07 during trading on Friday, reaching $7.02. The company's stock had a trading volume of 413,173 shares, compared to its average volume of 417,050. The company has a market cap of $343.85 million, a price-to-earnings ratio of -30.52 and a beta of 1.42. The firm has a fifty day simple moving average of $7.23 and a two-hundred day simple moving average of $8.28. Chatham Lodging Trust has a 1 year low of $5.83 and a 1 year high of $10.00. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37.

Chatham Lodging Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Monday, March 31st. Chatham Lodging Trust's dividend payout ratio (DPR) is currently -450.00%.

Chatham Lodging Trust Company Profile

Chatham Lodging Trust is a self-advised, publicly traded real estate investment trust (REIT) focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns 39 hotels totaling 5,915 rooms/suites in 16 states and the District of Columbia.