State Board of Administration of Florida Retirement System Sells 10,780 Shares of Chatham Lodging Trust (NYSE:CLDT)

State Board of Administration of Florida Retirement System reduced its holdings in shares of Chatham Lodging Trust (NYSE:CLDT – Get Rating) by 32.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,945 shares of the real estate investment trust’s stock after selling 10,780 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Chatham Lodging Trust were worth $269,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC bought a new stake in Chatham Lodging Trust during the first quarter worth $29,000. Tower Research Capital LLC TRC lifted its holdings in Chatham Lodging Trust by 94.6% during the third quarter. Tower Research Capital LLC TRC now owns 3,353 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 1,630 shares during the period. Captrust Financial Advisors bought a new stake in Chatham Lodging Trust during the second quarter worth $51,000. UBS Group AG lifted its holdings in Chatham Lodging Trust by 156.3% during the third quarter. UBS Group AG now owns 8,840 shares of the real estate investment trust’s stock worth $87,000 after acquiring an additional 5,391 shares during the period. Finally, Mutual of America Capital Management LLC lifted its holdings in Chatham Lodging Trust by 18.5% during the third quarter. Mutual of America Capital Management LLC now owns 9,710 shares of the real estate investment trust’s stock worth $96,000 after acquiring an additional 1,513 shares during the period. 84.97% of the stock is currently owned by institutional investors.

Chatham Lodging Trust Price Performance

Shares of NYSE CLDT opened at $9.94 on Monday. The stock has a market cap of $485.67 million, a PE ratio of 71.00 and a beta of 1.80. Chatham Lodging Trust has a fifty-two week low of $9.34 and a fifty-two week high of $14.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a fifty day moving average of $10.18 and a 200-day moving average of $11.90.

Chatham Lodging Trust Cuts Dividend

The firm also recently announced a monthly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 31st were paid a $0.07 dividend. The ex-dividend date was Thursday, March 30th. This represents a $0.84 dividend on an annualized basis and a yield of 8.45%. Chatham Lodging Trust’s dividend payout ratio is currently 200.00%.

Analyst Upgrades and Downgrades

CLDT has been the subject of a number of recent research reports. B. Riley decreased their target price on Chatham Lodging Trust from $16.00 to $15.00 in a research report on Monday, May 8th. StockNews.com initiated coverage on Chatham Lodging Trust in a research report on Thursday. They issued a “hold” rating for the company. Finally, Oppenheimer decreased their target price on Chatham Lodging Trust from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, February 28th.

Insiders Place Their Bets

In other Chatham Lodging Trust news, CEO Jeffrey H. Fisher bought 10,000 shares of the firm’s stock in a transaction on Thursday, March 16th. The shares were acquired at an average cost of $10.28 per share, for a total transaction of $102,800.00. Following the purchase, the chief executive officer now directly owns 611,545 shares of the company’s stock, valued at $6,286,682.60. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.20% of the company’s stock.

Chatham Lodging Trust Profile

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Chatham Lodging Trust engages in the acquisition and investment in hotel properties. It focuses on the upscale extended-stay and premium branded select-service hotels. The firm’s management evaluates the company’s hotels as a single industry segment because all of the hotels have similar economic characteristics and provide similar services to similar types of customers.