Chatham Lodging Trust (NYSE:CLDT) Short Interest Update

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totalling 585,600 shares, a decline of 14.9% from the April 30th total of 688,500 shares. Approximately 1.3% of the company's stock are sold short. Based on an average daily volume of 403,400 shares, the days-to-cover ratio is currently 1.5 days.

Chatham Lodging Trust Stock Performance

Shares of NYSE CLDT traded up $0.15 during mid-day trading on Friday, reaching $7.15. 186,042 shares of the company's stock were exchanged, compared to its average volume of 411,902. The firm has a 50-day moving average price of $6.92 and a two-hundred day moving average price of $8.03. Chatham Lodging Trust has a 52 week low of $5.83 and a 52 week high of $10.00. The firm has a market capitalization of $349.99 million, a price-to-earnings ratio of -31.06 and a beta of 1.44. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) last released its earnings results on Tuesday, May 6th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.01. Chatham Lodging Trust had a negative return on equity of 0.39% and a negative net margin of 0.99%. The company had revenue of $68.64 million during the quarter, compared to the consensus estimate of $67.99 million. Analysts predict that Chatham Lodging Trust will post 1.07 EPS for the current year.

Chatham Lodging Trust announced that its board has approved a share repurchase program on Tuesday, May 6th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase up to 7.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Chatham Lodging Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 5.04%. This is a boost from Chatham Lodging Trust's previous quarterly dividend of $0.02. The ex-dividend date of this dividend is Monday, June 30th. Chatham Lodging Trust's dividend payout ratio is presently 600.00%.

Institutional Investors Weigh In On Chatham Lodging Trust

A number of institutional investors have recently modified their holdings of CLDT. Barclays PLC raised its stake in Chatham Lodging Trust by 76.1% during the 3rd quarter. Barclays PLC now owns 282,195 shares of the real estate investment trust's stock valued at $2,404,000 after purchasing an additional 121,920 shares during the period. Asset Management One Co. Ltd. raised its position in Chatham Lodging Trust by 8.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 75,660 shares of the real estate investment trust's stock valued at $679,000 after purchasing an additional 5,703 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Chatham Lodging Trust during the 4th quarter valued at $244,000. Northern Trust Corp raised its position in shares of Chatham Lodging Trust by 8.0% in the 4th quarter. Northern Trust Corp now owns 506,353 shares of the real estate investment trust's stock worth $4,532,000 after acquiring an additional 37,574 shares in the last quarter. Finally, Man Group plc purchased a new position in Chatham Lodging Trust during the 4th quarter worth $682,000. 88.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Wall Street Zen downgraded shares of Chatham Lodging Trust from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Alliance Global Partners reiterated a "buy" rating on shares of Chatham Lodging Trust in a report on Tuesday, May 6th. Finally, Stifel Nicolaus decreased their target price on shares of Chatham Lodging Trust from $11.00 to $9.50 and set a "buy" rating for the company in a research report on Wednesday, April 16th.

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.