Chatham Lodging Trust (CLDT) Sees Significant Decline in Short Interest

Chatham Lodging Trust (NYSE:CLDT) was the recipient of a large decline in short interest in September. As of September 28th, there was short interest totalling 661,491 shares, a decline of 43.8% from the September 14th total of 1,178,063 shares. Based on an average daily trading volume, of 222,170 shares, the short-interest ratio is currently 3.0 days. Approximately 1.5% of the company’s stock are sold short.

A number of brokerages have recently commented on CLDT. B. Riley boosted their target price on shares of Chatham Lodging Trust from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Thursday, August 2nd. Zacks Investment Research cut shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $20.00 price target on shares of Chatham Lodging Trust in a research note on Wednesday, August 1st. Finally, ValuEngine upgraded shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. Chatham Lodging Trust currently has a consensus rating of “Hold” and a consensus price target of $21.20.

Shares of NYSE CLDT traded down $0.36 during midday trading on Friday, hitting $19.94. 197,867 shares of the company’s stock traded hands, compared to its average volume of 233,731. The firm has a market capitalization of $950.79 million, a P/E ratio of 9.32 and a beta of 1.10. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.65. Chatham Lodging Trust has a 1 year low of $17.90 and a 1 year high of $23.91.

Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.02. Chatham Lodging Trust had a return on equity of 4.46% and a net margin of 11.28%. The company had revenue of $90.23 million for the quarter, compared to analyst estimates of $87.42 million. As a group, equities research analysts anticipate that Chatham Lodging Trust will post 1.91 EPS for the current year.

The firm also recently declared a monthly dividend, which will be paid on Friday, November 30th. Stockholders of record on Wednesday, October 31st will be paid a $0.11 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.62%. The ex-dividend date of this dividend is Tuesday, October 30th. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently 61.68%.

Institutional investors have recently made changes to their positions in the company. MetLife Investment Advisors LLC lifted its stake in shares of Chatham Lodging Trust by 29.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 24,253 shares of the real estate investment trust’s stock valued at $515,000 after purchasing an additional 5,455 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Chatham Lodging Trust during the 2nd quarter worth about $206,000. Northern Trust Corp lifted its stake in Chatham Lodging Trust by 4.8% during the 2nd quarter. Northern Trust Corp now owns 1,283,309 shares of the real estate investment trust’s stock worth $27,232,000 after acquiring an additional 59,069 shares in the last quarter. American Century Companies Inc. lifted its stake in Chatham Lodging Trust by 161.6% during the 2nd quarter. American Century Companies Inc. now owns 124,682 shares of the real estate investment trust’s stock worth $2,646,000 after acquiring an additional 77,016 shares in the last quarter. Finally, Bowling Portfolio Management LLC acquired a new position in Chatham Lodging Trust during the 3rd quarter worth about $821,000. 82.48% of the stock is currently owned by institutional investors and hedge funds.

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About Chatham Lodging Trust

Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 135 hotels totaling 18,518 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,020 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,498 rooms/suites.

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