Chatham Lodging Trust (NYSE:CLDT) was the recipient of a significant drop in short interest during the month of September. As of September 28th, there was short interest totalling 661,491 shares, a drop of 43.8% from the September 14th total of 1,178,063 shares. Based on an average trading volume of 222,170 shares, the short-interest ratio is currently 3.0 days. Approximately 1.5% of the company’s shares are sold short.
Shares of NYSE CLDT opened at $19.80 on Thursday. Chatham Lodging Trust has a twelve month low of $17.90 and a twelve month high of $23.91. The firm has a market cap of $958.41 million, a P/E ratio of 9.25 and a beta of 1.15. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.66.
Chatham Lodging Trust (NYSE:CLDT) last announced its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.29). Chatham Lodging Trust had a return on equity of 4.61% and a net margin of 11.54%. The firm had revenue of $86.59 million for the quarter, compared to the consensus estimate of $83.34 million. On average, research analysts predict that Chatham Lodging Trust will post 1.92 EPS for the current fiscal year.
The company also recently announced a monthly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, October 31st will be paid a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date of this dividend is Tuesday, October 30th. Chatham Lodging Trust’s dividend payout ratio is presently 61.68%.
In other news, Director C Gerald Goldsmith sold 1,800 shares of the firm’s stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $21.65, for a total transaction of $38,970.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.40% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assetmark Inc. raised its stake in Chatham Lodging Trust by 137.2% during the second quarter. Assetmark Inc. now owns 5,296 shares of the real estate investment trust’s stock worth $112,000 after buying an additional 3,063 shares during the last quarter. OppenheimerFunds Inc. bought a new position in Chatham Lodging Trust during the second quarter worth $205,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Chatham Lodging Trust in the second quarter worth $206,000. Piedmont Investment Advisors LLC acquired a new stake in Chatham Lodging Trust in the second quarter worth $227,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Chatham Lodging Trust in the first quarter worth $237,000. 82.44% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on CLDT. Zacks Investment Research downgraded shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research note on Friday, August 3rd. B. Riley lifted their target price on shares of Chatham Lodging Trust from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, August 2nd. TheStreet raised shares of Chatham Lodging Trust from a “c+” rating to a “b-” rating in a research note on Thursday, July 12th. Stifel Nicolaus reissued a “hold” rating and set a $20.00 target price on shares of Chatham Lodging Trust in a research note on Wednesday, August 1st. Finally, ValuEngine raised shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $21.20.
Chatham Lodging Trust 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 18,518 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,020 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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