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

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) was the target of a large drop in short interest in September. As of September 30th, there was short interest totalling 394,700 shares, a drop 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.

Chatham Lodging Trust Price Performance

NYSE:CLDT traded up $0.14 on Friday, hitting $8.43. The company had a trading volume of 315,069 shares, compared to its average volume of 359,130. The firm has a 50 day moving average of $8.35 and a two-hundred day moving average of $8.72. The stock 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 has a 52 week low of $7.60 and a 52 week 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.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last released 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 analysts' expectations of $85.48 million. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, research analysts anticipate that Chatham Lodging Trust will post 1.07 earnings per share for the current year.

Chatham Lodging Trust Announces Dividend

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

Hedge Funds Weigh In On Chatham Lodging Trust

Several large investors have recently modified their holdings of CLDT. Creative Planning bought a new position in Chatham Lodging Trust during the third quarter worth $89,000. SG Americas Securities LLC acquired a new stake in Chatham Lodging Trust in the third quarter worth $185,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Chatham Lodging Trust in the second quarter worth $2,326,000. Point72 DIFC Ltd acquired a new stake in Chatham Lodging Trust in the second quarter worth $63,000. Finally, Quarry LP grew its holdings in Chatham Lodging Trust by 303.7% in the second quarter. Quarry LP now owns 5,515 shares of the real estate investment trust's stock worth $47,000 after purchasing an additional 4,149 shares during the period. Institutional investors own 88.37% of the company's stock.

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 note on Wednesday, August 14th.

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.

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