Short Interest in Chatham Lodging Trust (NYSE:CLDT) Declines By 24.6%

Chatham Lodging Trust (NYSE:CLDT) was the recipient of a significant decline in short interest in 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 daily volume of 293,000 shares, the short-interest ratio is currently 1.3 days.

Institutional Investors Weigh In On Chatham Lodging Trust

Large investors have recently made changes to their positions in the company. Donald Smith & CO. Inc. lifted its position in Chatham Lodging Trust by 56.8% during the 2nd quarter. Donald Smith & CO. Inc. now owns 3,330,219 shares of the real estate investment trust’s stock worth $28,373,000 after buying an additional 1,206,670 shares in the last quarter. Millennium Management LLC increased its stake in Chatham Lodging Trust by 1,241.7% during the 2nd quarter. Millennium Management LLC now owns 1,414,852 shares of the real estate investment trust’s stock worth $12,055,000 after purchasing an additional 1,309,396 shares in the last quarter. Renaissance Technologies LLC increased its stake in Chatham Lodging Trust by 1.0% during the 2nd quarter. Renaissance Technologies LLC now owns 957,275 shares of the real estate investment trust’s stock worth $8,156,000 after purchasing an additional 9,200 shares in the last quarter. Long Pond Capital LP bought a new position in shares of Chatham Lodging Trust during the 2nd quarter worth approximately $5,617,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Chatham Lodging Trust during the 2nd quarter worth approximately $2,326,000. Institutional investors own 88.37% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Chatham Lodging Trust Stock Performance

CLDT stock traded up $0.08 on Tuesday, reaching $8.52. 222,135 shares of the company were exchanged, compared to its average volume of 357,703. Chatham Lodging Trust has a 12 month low of $7.60 and a 12 month high of $11.32. The stock’s fifty day moving average price is $8.36 and its 200 day moving average price is $8.71. The firm has a market capitalization of $416.70 million, a PE ratio of -71.00 and a beta of 1.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.05 and a quick ratio of 1.05.

Chatham Lodging Trust (NYSE:CLDT) last announced its earnings results on Friday, August 2nd. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.26). The company had revenue of $86.48 million for the quarter, compared to analyst estimates of $85.48 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. On average, research analysts anticipate that Chatham Lodging Trust will post 1.07 EPS for the current fiscal year.

Chatham Lodging Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend is Monday, September 30th. Chatham Lodging Trust’s payout ratio is -233.33%.

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.