Chatham Lodging Trust (NYSE:CLDT) Stock Price Expected to Rise, Stifel Nicolaus Analyst Says

Key Points

• Stifel Nicolaus raised its price target on Chatham Lodging Trust to $14.00 from $13.00 and kept a buy rating, implying about 8.9% upside from the current price.
• Analyst sentiment is generally positive, with recent ratings including a Strong Buy from Zacks, a reiterated Buy from Alliance Global Partners, and an overall Moderate Buy consensus with an average target price of $13.00.
• The stock opened at $12.86 and has risen near its 52-week high of $13.64; meanwhile, institutional ownership remains high at 88.37%.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) had its price objective raised by equities researchers at Stifel Nicolaus from $13.00 to $14.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the real estate investment trust's stock. Stifel Nicolaus' target price points to a potential upside of 8.89% from the company's current price.

CLDT has been the subject of several other research reports. Alliance Global Partners reiterated a "buy" rating on shares of Chatham Lodging Trust in a research note on Friday, May 8th. Zacks Research upgraded shares of Chatham Lodging Trust from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Weiss Ratings raised shares of Chatham Lodging Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 1st. Finally, BMO Capital Markets reiterated a "market perform" rating and set a $12.00 target price on shares of Chatham Lodging Trust in a research report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $13.00.

Chatham Lodging Trust Stock Performance

Chatham Lodging Trust stock opened at $12.86 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $600.16 million, a price-to-earnings ratio of 642.85 and a beta of 1.08. The stock has a fifty day moving average of $11.70 and a two-hundred day moving average of $9.07. Chatham Lodging Trust has a fifty-two week low of $6.08 and a fifty-two week high of $13.64.

Hedge Funds Weigh In On Chatham Lodging Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its position in shares of Chatham Lodging Trust by 26.7% during the 1st quarter. Royal Bank of Canada now owns 193,422 shares of the real estate investment trust's stock valued at $1,379,000 after acquiring an additional 40,746 shares during the period. AQR Capital Management LLC raised its stake in Chatham Lodging Trust by 35.8% during the first quarter. AQR Capital Management LLC now owns 98,409 shares of the real estate investment trust's stock worth $702,000 after buying an additional 25,926 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Chatham Lodging Trust by 6.6% during the 1st quarter. Jane Street Group LLC now owns 289,534 shares of the real estate investment trust's stock worth $2,064,000 after buying an additional 18,030 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Chatham Lodging Trust in the first quarter valued at $62,000. Finally, Strs Ohio acquired a new position in Chatham Lodging Trust during the 1st quarter worth approximately $61,000. 88.37% of the stock is currently owned by institutional investors and hedge funds.

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.

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