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

Chatham Lodging Trust (NYSE:CLDT) was the target of a significant 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. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 323,300 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Trading of Chatham Lodging Trust

Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in Chatham Lodging Trust during the 4th quarter valued at $25,000. Lazard Asset Management LLC purchased a new stake in shares of Chatham Lodging Trust in the fourth quarter valued at $56,000. Quarry LP raised its stake in shares of Chatham Lodging Trust by 23.5% in the fourth quarter. Quarry LP now owns 7,487 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 1,423 shares during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Chatham Lodging Trust in the 4th quarter worth about $68,000. Finally, Quantinno Capital Management LP purchased a new position in shares of Chatham Lodging Trust during the 4th quarter worth about $94,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Analyst Upgrades and Downgrades

CLDT has been the subject of a number of research analyst reports. StockNews.com lowered shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Alliance Global Partners assumed coverage on shares of Chatham Lodging Trust in a research report on Wednesday, December 11th. They issued a “buy” rating and a $12.00 target price for the company.

Chatham Lodging Trust Stock Performance

NYSE:CLDT traded down $0.03 on Wednesday, hitting $7.11. The stock had a trading volume of 19,272 shares, compared to its average volume of 326,170. Chatham Lodging Trust has a 52-week low of $7.00 and a 52-week high of $10.16. The stock has a market cap of $348.26 million, a price-to-earnings ratio of -30.91 and a beta of 1.49. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. The business’s 50-day simple moving average is $8.15 and its two-hundred day simple moving average is $8.59.

Chatham Lodging Trust Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, March 31st. Chatham Lodging Trust’s dividend payout ratio (DPR) is presently -450.00%.

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.