Cambria Investment Management L.P. Sells 2,622 Shares of Chatham Lodging Trust (NYSE:CLDT)

Cambria Investment Management L.P. decreased its position in shares of Chatham Lodging Trust (NYSE:CLDT) by 9.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,909 shares of the real estate investment trust’s stock after selling 2,622 shares during the quarter. Cambria Investment Management L.P.’s holdings in Chatham Lodging Trust were worth $233,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its stake in shares of Chatham Lodging Trust by 42.1% in the 2nd quarter. Citigroup Inc. now owns 46,268 shares of the real estate investment trust’s stock valued at $433,000 after acquiring an additional 13,703 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Chatham Lodging Trust by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 656,937 shares of the real estate investment trust’s stock valued at $6,149,000 after acquiring an additional 14,004 shares in the last quarter. Swiss National Bank increased its stake in shares of Chatham Lodging Trust by 6.2% in the 2nd quarter. Swiss National Bank now owns 106,300 shares of the real estate investment trust’s stock valued at $995,000 after acquiring an additional 6,200 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Chatham Lodging Trust by 6.9% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 55,225 shares of the real estate investment trust’s stock valued at $517,000 after acquiring an additional 3,546 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Chatham Lodging Trust by 29.8% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 31,108 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 7,145 shares in the last quarter. Institutional investors own 92.18% of the company’s stock.

Chatham Lodging Trust Price Performance

CLDT opened at $10.20 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market capitalization of $498.36 million, a price-to-earnings ratio of 255.00 and a beta of 1.76. The firm’s fifty day moving average price is $9.69 and its two-hundred day moving average price is $9.62. Chatham Lodging Trust has a 1 year low of $8.92 and a 1 year high of $14.38.

Chatham Lodging Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, September 28th. Chatham Lodging Trust’s dividend payout ratio is 700.00%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. B. Riley lowered their price objective on shares of Chatham Lodging Trust from $15.00 to $14.00 in a research note on Monday, August 7th. Barclays reduced their price target on shares of Chatham Lodging Trust from $16.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, July 27th. Finally, StockNews.com raised shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research report on Tuesday.

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.