Corebridge Financial Inc. Lowers Position in Chatham Lodging Trust (NYSE:CLDT)

Corebridge Financial Inc. decreased its position in shares of Chatham Lodging Trust (NYSE:CLDT) by 7.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 23,945 shares of the real estate investment trust’s stock after selling 1,807 shares during the period. Corebridge Financial Inc.’s holdings in Chatham Lodging Trust were worth $214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Chatham Lodging Trust by 1.1% in the 3rd 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 during the period. Geode Capital Management LLC raised its holdings in 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 worth $10,953,000 after purchasing an additional 26,129 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Chatham Lodging Trust by 95.4% during 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 buying an additional 308,883 shares during the period. Barclays PLC boosted its holdings in shares of Chatham Lodging Trust by 76.1% during the 3rd quarter. Barclays PLC now owns 282,195 shares of the real estate investment trust’s stock valued at $2,404,000 after buying an additional 121,920 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in Chatham Lodging Trust in the fourth quarter worth about $1,273,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th.

Chatham Lodging Trust Stock Performance

Shares of CLDT stock opened at $6.54 on Friday. The company has a market capitalization of $320.54 million, a price-to-earnings ratio of -28.45 and a beta of 1.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 0.96. Chatham Lodging Trust has a one year low of $5.83 and a one year high of $10.00. The company’s 50-day moving average is $7.70 and its 200 day moving average is $8.44.

Chatham Lodging Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, March 31st. Chatham Lodging Trust’s payout ratio 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.