Chatham Lodging (NYSE:CLDT) saw a large increase in short interest in February. As of February 28th, there was short interest totalling 1,674,686 shares, an increase of 54.6% from the February 15th total of 1,082,969 shares. Based on an average daily trading volume, of 524,890 shares, the short-interest ratio is currently 3.2 days. Approximately 4.5% of the company’s stock are sold short.
In related news, Director C Gerald Goldsmith acquired 5,000 shares of Chatham Lodging stock in a transaction that occurred on Monday, March 5th. The stock was bought at an average price of $18.32 per share, with a total value of $91,600.00. Following the transaction, the director now directly owns 26,328 shares in the company, valued at $482,328.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Willis acquired 2,000 shares of Chatham Lodging stock in a transaction that occurred on Wednesday, February 28th. The shares were bought at an average cost of $18.30 per share, with a total value of $36,600.00. Following the transaction, the executive vice president now owns 68,233 shares in the company, valued at $1,248,663.90. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 14,715 shares of company stock valued at $270,485. 3.60% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in CLDT. Schroder Investment Management Group purchased a new position in shares of Chatham Lodging in the 3rd quarter worth $112,000. Advisor Group Inc. boosted its stake in shares of Chatham Lodging by 91.0% in the 4th quarter. Advisor Group Inc. now owns 7,652 shares of the real estate investment trust’s stock worth $174,000 after buying an additional 3,645 shares during the last quarter. Aperio Group LLC purchased a new position in shares of Chatham Lodging in the 4th quarter worth $223,000. BlueCrest Capital Management Ltd purchased a new position in shares of Chatham Lodging in the 4th quarter worth $257,000. Finally, SG Americas Securities LLC purchased a new position in shares of Chatham Lodging in the 3rd quarter worth $278,000. Hedge funds and other institutional investors own 88.61% of the company’s stock.
Shares of CLDT stock traded down $0.34 on Friday, reaching $19.18. The stock had a trading volume of 408,334 shares, compared to its average volume of 339,013. The company has a market cap of $879.75, a P/E ratio of 8.96 and a beta of 1.07. Chatham Lodging has a 1 year low of $17.90 and a 1 year high of $23.91. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.28 and a quick ratio of 1.28.
Chatham Lodging (NYSE:CLDT) last released its quarterly earnings results on Monday, February 26th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.02). The firm had revenue of $70.32 million during the quarter, compared to analysts’ expectations of $68.50 million. Chatham Lodging had a return on equity of 4.11% and a net margin of 9.86%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the business earned $0.44 earnings per share. analysts expect that Chatham Lodging will post 1.91 earnings per share for the current year.
The company also recently declared a monthly dividend, which will be paid on Friday, April 27th. Stockholders of record on Thursday, March 29th will be paid a $0.11 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.88%. Chatham Lodging’s dividend payout ratio (DPR) is currently 61.68%.
CLDT has been the topic of several recent analyst reports. Stifel Nicolaus reiterated a “hold” rating and set a $20.00 target price on shares of Chatham Lodging in a research note on Tuesday, February 27th. Barclays cut their target price on Chatham Lodging from $23.00 to $22.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 27th. Cantor Fitzgerald set a $20.00 target price on Chatham Lodging and gave the company a “hold” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded Chatham Lodging from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. Finally, B. Riley cut their target price on Chatham Lodging from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $21.00.
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Chatham Lodging Company Profile
Chatham Lodging Trust is a self-advised, publicly-traded real estate investment trust focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 135 hotels totaling 18,516 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,018 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,498 rooms/suites.
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