Short Interest in Chatham Lodging Trust (NYSE:CLDT) Expands By 22.4%

Chatham Lodging Trust (NYSE:CLDT) was the target of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 501,800 shares, a growth of 22.4% from the February 28th total of 410,000 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily volume of 323,300 shares, the short-interest ratio is currently 1.6 days.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CLDT. Donald Smith & CO. Inc. increased its holdings in Chatham Lodging Trust by 30.7% in the 4th quarter. Donald Smith & CO. Inc. now owns 4,497,679 shares of the real estate investment trust’s stock worth $40,254,000 after buying an additional 1,055,999 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in shares of Chatham Lodging Trust in the fourth quarter worth $5,738,000. JPMorgan Chase & Co. raised its holdings in shares of Chatham Lodging Trust by 53.4% during the fourth quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust’s stock worth $8,685,000 after purchasing an additional 337,842 shares during the last quarter. Repertoire Partners LP acquired a new position in Chatham Lodging Trust during the third quarter valued at $2,556,000. Finally, Bank of Montreal Can purchased a new stake in Chatham Lodging Trust in the third quarter valued at $2,162,000. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Chatham Lodging Trust Price Performance

Shares of CLDT opened at $6.81 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96. The company’s fifty day moving average price is $8.12 and its 200-day moving average price is $8.58. Chatham Lodging Trust has a 1-year low of $6.81 and a 1-year high of $10.16. The firm has a market capitalization of $333.32 million, a PE ratio of -29.76 and a beta of 1.49.

Chatham Lodging Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.08 annualized dividend and a yield of 1.18%. Chatham Lodging Trust’s payout ratio is presently -450.00%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Alliance Global Partners began coverage on shares of Chatham Lodging Trust in a research note on Wednesday, December 11th. They set a “buy” rating and a $12.00 price objective on the stock. StockNews.com cut Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th.

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.