Chatham Lodging Trust (NYSE:CLDT) Sees Large Decline in Short Interest

Chatham Lodging Trust (NYSE:CLDT) was the target of a significant 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 short-interest ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

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

Chatham Lodging Trust Stock Performance

Shares of NYSE CLDT traded up $0.14 during midday trading on Friday, hitting $8.43. The company’s stock had a trading volume of 315,069 shares, compared to its average volume of 359,130. The stock has a fifty day moving average price of $8.35 and a 200 day moving average price of $8.72. Chatham Lodging Trust has a one year low of $7.60 and a one year high of $11.32. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $412.29 million, a price-to-earnings ratio of -70.25 and a beta of 1.79.

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 (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.26). The firm 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 business posted $0.43 earnings per share. On average, research analysts forecast that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.

Chatham Lodging Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.07 per share. The ex-dividend date is Monday, September 30th. This represents a $0.28 annualized dividend and a yield of 3.32%. Chatham Lodging Trust’s dividend payout ratio is currently -233.33%.

Hedge Funds Weigh In On Chatham Lodging Trust

Hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new stake in shares of Chatham Lodging Trust in the 2nd quarter valued at $46,000. Quarry LP boosted its stake in shares of 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 in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Chatham Lodging Trust in the 2nd quarter valued at $63,000. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 in the last quarter. Finally, Creative Planning purchased a new stake in shares of Chatham Lodging Trust in the 3rd quarter valued at $89,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

About Chatham Lodging Trust

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.