Janney Capital took its Chatham Lodging [CLDT] rating to the equivalent of Buy from Neutral, in a research note dated 2021-01-06. Other analysts also revised their coverage, with B. Riley FBR’s analysts upgrading the shares from “a Neutral” rating to “a Buy” rating in a research note to investors issued in late March. Meanwhile, BMO Capital Markets had launched its coverage on CLDT with “Market perform”, in a research note produced for clients October 17, 2019. In addition, there was no change from B. Riley FBR Inc. on February 27, 2018. The rater maintained CLDT to “a Neutral” but assigned new target price of $20.
Is Chatham Lodging Trust [NYSE:CLDT] a Good Buy Right Now?
It should be noted that CLDT technical indicators for short, intermediate as well as long term progress have placed an overall average of 72% as Buy. The average signal changed from 88% Buy in the last week and compares with 100% Buy in the past month. Data from Chatham Lodging Trust’s Trend Spotter indicated that the signals were Weakest. The stock current average is 0.32 million shares in the past 20 days and the short term average signal indicates a 50% Buy. In the last 50 days, the average trading volume was 0.35 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.4 million shares.
CLDT Price Performance
On Wall Street, Chatham Lodging Trust [NYSE:CLDT] finished Tuesday’s session up 1.72% at $10.64. The stock went up to $10.85 at the same session while its lowest single day price was $10.43. In the last five days, it saw a fall of about -5.59%, Chatham Lodging Trust shares dropped by almost -1.48% since the beginning of the year. However, the share price has dropped to as low as -41.57% below its one year high. On 01/04/21, the company shares recorded $10.97, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $10.26. The company’s shares have declined by -40.16% in the past year. The 50-day SMA achieved is $10.28 while the 200-day SMA is $7.58. Volume dropped to 0.23 million from 0.34 million in the previous session.
CLDT Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 10.43 level, and in case of violation of this particular level, it will cause more drop to 10.22 level. On the upper level, 11.06 is still the key resistance. The stock may increase to the subsequent resistance at 10.85. The Relative Strength Index (RSI) pinned on the 14-day chart is 44.26, implying a neutral technical stance while the MACD stands at -0.55, meaning price will decrease in the next trading period. Percent R indicator moved to 77.78%, implying bearish price movement. Stochastic %K at 13.71% suggest selling the stock.
What is the short interest in Chatham Lodging Trust?
Short interest in the Chatham Lodging Trust stock has plunged, decreasing by -0.32 million shares to total 1.78 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 1.46 million, data from Yahoo Finance shows. The increase of 17.98% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 5.56% of the overall float for the stock.
Chatham Lodging Trust’s Biggest Shareholders: Who Owns Chatham Lodging Trust [CLDT]?
Filings by BlackRock Fund Advisors showed that the firm now holds a total of 6,627,532 shares or roughly 14.11% of the outstanding CLDT shares. This means their shares have reduced by -377,075 from the 6,627,532 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, The Vanguard Group, Inc. updated stake is worth $56,971,873. Details in the latest 13F filings reveal that Fuller & Thaler Asset Management, disposed off their -5.55% stake valued at $33,412,719 while SSgA Funds Management, Inc. cut theirs at $25,437,361. During the last quarter, Fuller & Thaler Asset Management, liquidated -178,356 of its shares in Chatham Lodging Trust while SSgA Funds Management, Inc. sold -154,400 shares. The Renaissance Technologies LLC’s holdings currently number 1,742,555 shares at $18540785.2. According to the firm’s last 13F report, Northern Trust Investments, Inc. shares in the company at filing stood at 1,062,279 shares, roughly $11,695,692.
CLDT Earnings Forecast For The Current Quarter
Chatham Lodging Trust [CLDT] is expected to report weak earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $36.98M and an earnings per share of -$0.45 for Dec 2020. Looking further ahead, the company is expected to report revenue of $43.24M at an EPS of -$0.44 for Mar 2021. The estimates represent downside of 40.10% and 59.50% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
CLDT Earnings Estimates For The Current Year
For the financial year, Chatham Lodging Trust [NYSE:CLDT] is expected to bring in revenue of $149.61M. The returns are nearly $-178.72 million lower than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -2.1, lower than that of FY19 by -$2.49. Estimates put this year’s earnings growth at -638.50%, 59.50% for the next, and at an annual 12.00% over the next 5-year period. As for sales, forecasts are for a decrease of -54.40% in the current fiscal year and a further 40.10% over the following year.