Chatham Lodging Trust (NYSE:CLDT) Short Interest Up 5.2% in July

Chatham Lodging Trust (NYSE:CLDT) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 856,400 shares, a growth of 5.2% from the June 30th total of 814,400 shares. Based on an average daily volume of 586,700 shares, the short-interest ratio is presently 1.5 days.

Chatham Lodging Trust Stock Performance

Shares of CLDT stock traded down $0.13 during trading on Thursday, reaching $8.66. 527,459 shares of the company’s stock traded hands, compared to its average volume of 389,688. The company has a market capitalization of $423.56 million, a P/E ratio of -72.25 and a beta of 1.80. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.49. The firm’s 50-day moving average is $8.55 and its 200 day moving average is $9.46. Chatham Lodging Trust has a 1 year low of $7.60 and a 1 year high of $11.32.

Chatham Lodging Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend was Friday, June 28th. Chatham Lodging Trust’s payout ratio is currently -233.33%.

Insiders Place Their Bets

In other news, COO Dennis M. Craven acquired 12,000 shares of Chatham Lodging Trust stock in a transaction on Monday, June 10th. The stock was acquired at an average cost of $7.88 per share, with a total value of $94,560.00. Following the transaction, the chief operating officer now owns 110,943 shares of the company’s stock, valued at approximately $874,230.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.50% of the stock is currently owned by insiders.

Institutional Trading of Chatham Lodging Trust

A number of institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC increased its stake in Chatham Lodging Trust by 80.6% in the 4th quarter. Quadrant Capital Group LLC now owns 4,726 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 2,109 shares during the last quarter. Quest Partners LLC bought a new position in Chatham Lodging Trust in the 4th quarter worth about $70,000. Allspring Global Investments Holdings LLC increased its position in shares of Chatham Lodging Trust by 322.6% during 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. Quadrature Capital Ltd bought a new position in shares of Chatham Lodging Trust during the 4th quarter valued at about $125,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Chatham Lodging Trust by 83.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,537 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 7,070 shares during the last quarter. 88.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com raised shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Barclays dropped their price target on shares of Chatham Lodging Trust from $13.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th.

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.