Magnetar Financial LLC Invests $388,000 in Chatham Lodging Trust (NYSE:CLDT)

Magnetar Financial LLC purchased a new position in shares of Chatham Lodging Trust (NYSE:CLDT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 43,376 shares of the real estate investment trust’s stock, valued at approximately $388,000. Magnetar Financial LLC owned about 0.09% of Chatham Lodging Trust as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. State Street Corp raised its stake in shares of Chatham Lodging Trust by 1.1% in the third quarter. State Street Corp now owns 1,634,114 shares of the real estate investment trust’s stock valued at $14,036,000 after purchasing an additional 17,428 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Chatham Lodging Trust by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,285,326 shares of the real estate investment trust’s stock valued at $10,953,000 after purchasing an additional 26,129 shares in the last quarter. JPMorgan Chase & Co. raised 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 valued at $5,389,000 after purchasing an additional 308,883 shares in the last quarter. Repertoire Partners LP acquired a new position in shares of Chatham Lodging Trust in the third quarter valued at $2,556,000. Finally, Barclays PLC raised its stake in shares of Chatham Lodging Trust by 76.1% in the third quarter. Barclays PLC now owns 282,195 shares of the real estate investment trust’s stock valued at $2,404,000 after purchasing an additional 121,920 shares in the last quarter. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CLDT has been the subject of a number of recent research reports. StockNews.com upgraded Chatham Lodging Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, March 18th. Alliance Global Partners initiated coverage on Chatham Lodging Trust in a research note on Wednesday, December 11th. They issued a “buy” rating and a $12.00 target price for the company.

Chatham Lodging Trust Stock Performance

Shares of NYSE:CLDT opened at $7.42 on Friday. The business’s fifty day moving average price is $8.36 and its two-hundred day moving average price is $8.64. Chatham Lodging Trust has a fifty-two week low of $7.26 and a fifty-two week high of $10.27. The stock has a market capitalization of $363.15 million, a price-to-earnings ratio of -32.24 and a beta of 1.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96.

Chatham Lodging Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, March 31st. Chatham Lodging Trust’s dividend payout ratio (DPR) is -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.