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

Chatham Lodging Trust (NYSE:CLDT) saw a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 377,900 shares, a growth of 9.0% from the November 30th total of 346,800 shares. Based on an average daily volume of 389,100 shares, the days-to-cover ratio is currently 1.0 days.

Chatham Lodging Trust Stock Down 0.3 %

CLDT opened at $8.95 on Thursday. 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 fifty-two week low of $7.60 and a fifty-two week high of $11.10. The firm’s fifty day moving average is $9.03 and its 200 day moving average is $8.65. The stock has a market cap of $437.75 million, a price-to-earnings ratio of -38.91 and a beta of 1.82.

Chatham Lodging Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Tuesday, December 31st. Chatham Lodging Trust’s dividend payout ratio (DPR) is -121.74%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CLDT. Meeder Asset Management Inc. bought a new stake in Chatham Lodging Trust in the 2nd quarter valued at $46,000. Quarry LP increased its holdings in Chatham Lodging Trust by 303.7% in the 2nd quarter. Quarry LP now owns 5,515 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 4,149 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Chatham Lodging Trust in the 2nd quarter valued at $63,000. Allspring Global Investments Holdings LLC increased its holdings in Chatham Lodging Trust by 322.6% in 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 acquiring an additional 7,587 shares during the last quarter. Finally, Creative Planning bought a new stake in Chatham Lodging Trust in the 3rd quarter valued at $89,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

Analysts Set New Price Targets

Separately, Alliance Global Partners began coverage on shares of Chatham Lodging Trust in a research note on Wednesday, December 11th. They set a “buy” rating and a $12.00 price target on the stock.

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.