Renaissance Technologies LLC Sells 99,400 Shares of Chatham Lodging Trust (REIT) $CLDT

Key Points

• Renaissance Technologies reduced its Chatham Lodging Trust position by 9.8% in the first quarter, selling 99,400 shares and retaining 919,075 shares worth approximately $7.23 million.
• Institutional ownership remains high at 88.37%, with several other funds increasing their stakes, including Sculptor Capital, which boosted its position by 10.6%.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and a $13.00 price target; CLDT recently traded at $13.14 and pays a quarterly dividend of $0.10.

Renaissance Technologies LLC lowered its position in Chatham Lodging Trust (REIT) (NYSE:CLDT - Free Report) by 9.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 919,075 shares of the real estate investment trust's stock after selling 99,400 shares during the period. Renaissance Technologies LLC owned about 1.97% of Chatham Lodging Trust worth $7,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. raised its position in shares of Chatham Lodging Trust by 1.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 4,684,548 shares of the real estate investment trust's stock worth $31,902,000 after purchasing an additional 88,879 shares during the period. Sculptor Capital LP increased its stake in Chatham Lodging Trust by 10.6% during the 4th quarter. Sculptor Capital LP now owns 2,365,395 shares of the real estate investment trust's stock worth $16,108,000 after purchasing an additional 227,500 shares in the last quarter. Aegis Financial Corp acquired a new stake in Chatham Lodging Trust during the 4th quarter worth approximately $4,621,000. PharVision Advisers LLC lifted its stake in Chatham Lodging Trust by 215.6% in the third quarter. PharVision Advisers LLC now owns 47,427 shares of the real estate investment trust's stock valued at $318,000 after buying an additional 32,399 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of Chatham Lodging Trust by 61.9% in the third quarter. Quarry LP now owns 8,629 shares of the real estate investment trust's stock valued at $58,000 after buying an additional 3,300 shares during the period. 88.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Weiss Ratings upgraded shares of Chatham Lodging Trust from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, June 1st. BMO Capital Markets reissued a "market perform" rating and issued a $12.00 price target on shares of Chatham Lodging Trust in a research note on Friday, June 12th. Zacks Research upgraded Chatham Lodging Trust from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 9th. Stifel Nicolaus increased their price objective on Chatham Lodging Trust from $13.00 to $14.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Finally, Alliance Global Partners reissued a "buy" rating on shares of Chatham Lodging Trust in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Chatham Lodging Trust presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.00.

Chatham Lodging Trust Stock Performance

Shares of CLDT stock opened at $13.14 on Tuesday. The company has a fifty day moving average price of $12.71 and a two-hundred day moving average price of $9.76. Chatham Lodging Trust has a one year low of $6.08 and a one year high of $13.88. The stock has a market cap of $613.61 million, a P/E ratio of 657.25 and a beta of 1.08. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.73 and a quick ratio of 0.73.

Chatham Lodging Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 30th. Chatham Lodging Trust's dividend payout ratio is currently 2,000.00%.

About Chatham Lodging Trust

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.

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