Martingale Asset Management L P Buys 18,015 Shares of Chatham Lodging Trust (NYSE:CLDT)

Martingale Asset Management L P increased its stake in Chatham Lodging Trust (NYSE:CLDT) by 16.9% during the third quarter, Holdings Channel reports. The firm owned 124,612 shares of the real estate investment trust’s stock after acquiring an additional 18,015 shares during the period. Martingale Asset Management L P’s holdings in Chatham Lodging Trust were worth $1,062,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Chatham Lodging Trust by 2.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 61,705 shares of the real estate investment trust’s stock worth $624,000 after purchasing an additional 1,702 shares during the period. Algert Global LLC grew its position in Chatham Lodging Trust by 20.5% in the second quarter. Algert Global LLC now owns 22,817 shares of the real estate investment trust’s stock valued at $194,000 after acquiring an additional 3,876 shares during the last quarter. Quarry LP grew its position in Chatham Lodging Trust by 303.7% in the second quarter. Quarry LP now owns 5,515 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 4,149 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Chatham Lodging Trust in the second quarter valued at about $46,000. Finally, Point72 DIFC Ltd bought a new position in Chatham Lodging Trust in the second quarter valued at about $63,000. Institutional investors own 88.37% of the company’s stock.

Chatham Lodging Trust Stock Performance

Chatham Lodging Trust stock opened at $9.21 on Monday. Chatham Lodging Trust has a 12-month low of $7.60 and a 12-month high of $11.32. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. The business’s 50-day moving average price is $8.62 and its two-hundred day moving average price is $8.52. The stock has a market cap of $450.46 million, a PE ratio of -40.04 and a beta of 1.79.

Chatham Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Monday, September 30th. Chatham Lodging Trust’s dividend payout ratio is currently -121.73%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, August 14th.

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.