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

Chatham Lodging Trust (NYSE:CLDT) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 631,800 shares, a growth of 25.9% from the March 15th total of 501,800 shares. Based on an average trading volume of 360,600 shares, the short-interest ratio is presently 1.8 days. Currently, 1.4% of the company’s shares are short sold.

Institutional Trading of Chatham Lodging Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new position in Chatham Lodging Trust in the 4th quarter valued at about $25,000. Lazard Asset Management LLC acquired a new position in shares of Chatham Lodging Trust in the 4th quarter valued at $56,000. Quarry LP lifted its position in 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 buying an additional 1,423 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Chatham Lodging Trust during the 4th quarter worth approximately $68,000. Finally, GAMMA Investing LLC raised its holdings in shares of Chatham Lodging Trust by 565.4% in the 1st quarter. GAMMA Investing LLC now owns 9,568 shares of the real estate investment trust’s stock valued at $68,000 after buying an additional 8,130 shares during the period. 88.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CLDT has been the topic of a number of analyst reports. Stifel Nicolaus cut their target price on Chatham Lodging Trust from $11.00 to $9.50 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. StockNews.com lowered shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, March 26th.

Chatham Lodging Trust Price Performance

Shares of Chatham Lodging Trust stock traded up $0.01 on Monday, hitting $6.82. The company’s stock had a trading volume of 168,477 shares, compared to its average volume of 415,601. The company has a market capitalization of $334.06 million, a price-to-earnings ratio of -29.65 and a beta of 1.49. The firm has a fifty day moving average price of $7.51 and a 200-day moving average price of $8.38. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.96 and a current ratio of 0.96. Chatham Lodging Trust has a 1 year low of $5.83 and a 1 year high of $10.00.

Chatham Lodging Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.02 per share. The ex-dividend date was Monday, March 31st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.17%. Chatham Lodging Trust’s dividend payout ratio (DPR) is -450.00%.

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.