Short Interest in Chatham Lodging Trust (NYSE:CLDT) Declines By 24.6%

Chatham Lodging Trust (NYSE:CLDT) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 394,700 shares, a decline of 24.6% from the September 15th total of 523,600 shares. Based on an average trading volume of 293,000 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new stake in Chatham Lodging Trust in the 2nd quarter valued at about $46,000. Quarry LP lifted its position in Chatham Lodging Trust by 303.7% in the 2nd quarter. Quarry LP now owns 5,515 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 4,149 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Chatham Lodging Trust in the 2nd quarter valued at about $63,000. Allspring Global Investments Holdings LLC lifted its position in Chatham Lodging Trust by 322.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,939 shares of the real estate investment trust’s stock valued at $85,000 after purchasing an additional 7,587 shares during the last quarter. Finally, Creative Planning bought a new stake in shares of Chatham Lodging Trust during the 3rd quarter worth about $89,000. 88.37% of the stock is owned by institutional investors and hedge funds.

Chatham Lodging Trust Trading Up 0.9 %

Shares of CLDT traded up $0.08 on Tuesday, hitting $8.52. 222,135 shares of the stock traded hands, compared to its average volume of 357,703. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $416.70 million, a P/E ratio of -71.00 and a beta of 1.79. Chatham Lodging Trust has a 1 year low of $7.60 and a 1 year high of $11.32. The stock’s 50 day moving average is $8.36 and its two-hundred day moving average is $8.71.

Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly earnings results on Friday, August 2nd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.26). The business had revenue of $86.48 million for the quarter, compared to the consensus estimate of $85.48 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. As a group, sell-side analysts predict that Chatham Lodging Trust will post 1.07 earnings per share for the current year.

Chatham Lodging Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend is Monday, September 30th. Chatham Lodging Trust’s dividend payout ratio is currently -233.33%.

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.