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

Chatham Lodging Trust (NYSE:CLDT) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 997,400 shares, an increase of 10.8% from the January 15th total of 900,500 shares. Based on an average daily trading volume, of 203,800 shares, the days-to-cover ratio is currently 4.9 days. Approximately 2.2% of the shares of the stock are sold short.

Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its stake in shares of Chatham Lodging Trust by 5.1% in the third quarter. Russell Investments Group Ltd. now owns 17,283 shares of the real estate investment trust’s stock worth $314,000 after purchasing an additional 842 shares during the last quarter. First Trust Advisors LP lifted its holdings in Chatham Lodging Trust by 22.0% in the third quarter. First Trust Advisors LP now owns 103,754 shares of the real estate investment trust’s stock valued at $1,883,000 after buying an additional 18,703 shares during the period. California Public Employees Retirement System lifted its holdings in Chatham Lodging Trust by 97.3% in the third quarter. California Public Employees Retirement System now owns 81,589 shares of the real estate investment trust’s stock valued at $1,481,000 after buying an additional 40,242 shares during the period. California State Teachers Retirement System lifted its holdings in Chatham Lodging Trust by 1.1% in the third quarter. California State Teachers Retirement System now owns 71,520 shares of the real estate investment trust’s stock valued at $1,298,000 after buying an additional 747 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in Chatham Lodging Trust by 0.8% in the third quarter. Public Employees Retirement System of Ohio now owns 101,145 shares of the real estate investment trust’s stock valued at $1,836,000 after buying an additional 785 shares during the period. 86.77% of the stock is currently owned by institutional investors.

Shares of NYSE CLDT traded up $0.04 during midday trading on Friday, reaching $17.30. 205,900 shares of the company were exchanged, compared to its average volume of 242,855. The stock’s 50-day moving average price is $17.55 and its 200-day moving average price is $17.71. The stock has a market cap of $809.93 million, a P/E ratio of 40.23 and a beta of 1.15. Chatham Lodging Trust has a one year low of $16.16 and a one year high of $21.74. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.74.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, February 28th will be paid a $0.11 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.32 annualized dividend and a dividend yield of 7.63%. Chatham Lodging Trust’s dividend payout ratio is 67.69%.

Separately, Zacks Investment Research cut shares of Chatham Lodging Trust from a “buy” rating to a “hold” rating in a research note on Friday, December 27th. Five analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $18.75.

About Chatham Lodging Trust

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 137 hotels totaling 18,783 rooms/suites, comprised of 42 properties it wholly owns with an aggregate of 6,283 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 12,500 rooms/suites.

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