Adage Capital Partners GP L.L.C. Takes $5.74 Million Position 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 fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Barclays PLC increased its position in Chatham Lodging Trust by 76.1% during the 3rd quarter. Barclays PLC now owns 282,195 shares of the real estate investment trust's stock valued at $2,404,000 after buying an additional 121,920 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Chatham Lodging Trust by 95.4% in the third quarter. JPMorgan Chase & Co. now owns 632,550 shares of the real estate investment trust's stock worth $5,389,000 after acquiring an additional 308,883 shares during the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Chatham Lodging Trust by 8.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 75,660 shares of the real estate investment trust's stock valued at $679,000 after acquiring an additional 5,703 shares in the last quarter. Ballentine Partners LLC purchased a new position in shares of Chatham Lodging Trust in the 4th quarter worth about $102,000. Finally, Geode Capital Management LLC boosted its stake in Chatham Lodging Trust by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,285,326 shares of the real estate investment trust's stock worth $10,953,000 after purchasing an additional 26,129 shares in the last quarter. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on CLDT. Stifel Nicolaus decreased their target price on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating for the company in a report on Wednesday, April 16th. StockNews.com lowered shares of Chatham Lodging Trust from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th.

Chatham Lodging Trust Stock Performance

Shares of NYSE CLDT traded up $0.07 during trading on Friday, reaching $7.02. 413,173 shares of the company traded hands, compared to its average volume of 417,955. The firm has a 50 day simple moving average of $7.23 and a 200-day simple moving average of $8.27. Chatham Lodging Trust has a 52-week low of $5.83 and a 52-week high of $10.00. The stock has a market capitalization of $343.85 million, a PE ratio of -30.52 and a beta of 1.42. 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 announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.14%. The ex-dividend date was Monday, March 31st. Chatham Lodging Trust's dividend payout ratio is currently -450.00%.

Chatham Lodging Trust 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.