Chatham Lodging Trust (NYSE:CLDT) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Chatham Lodging Trust (NYSE:CLDT) from a “hold” to a “strong-buy,” adding to generally positive analyst sentiment around the stock.
• Wall Street’s view is mixed but constructive: the stock carries a Moderate Buy consensus rating with an average price target of $12.50, while recent targets and ratings have ranged from market perform to buy.
• Chatham Lodging Trust is a REIT focused on upscale extended-stay and select-service hotels, and the company owns 39 hotels across 16 states and Washington, D.C.

Chatham Lodging Trust (NYSE:CLDT - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Thursday,Zacks.com reports.

Several other analysts have also recently commented on the company. Stifel Nicolaus set a $13.00 target price on Chatham Lodging Trust in a report on Friday, June 5th. Weiss Ratings upgraded shares of Chatham Lodging Trust from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, June 1st. Alliance Global Partners reaffirmed a "buy" rating on shares of Chatham Lodging Trust in a research note on Friday, May 8th. 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 equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $12.50.

Chatham Lodging Trust Stock Performance

NYSE:CLDT opened at $12.85 on Thursday. The firm has a market capitalization of $600.02 million, a PE ratio of 642.70 and a beta of 1.08. Chatham Lodging Trust has a 1 year low of $6.08 and a 1 year high of $13.64. The firm's fifty day simple moving average is $11.61 and its 200 day simple moving average is $9.01. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.30.

Hedge Funds Weigh In On Chatham Lodging Trust

Several institutional investors have recently modified their holdings of the stock. Sculptor Capital LP acquired a new stake in shares of Chatham Lodging Trust in the 2nd quarter valued at approximately $14,901,000. Aegis Financial Corp acquired a new position in Chatham Lodging Trust during the fourth quarter valued at approximately $4,621,000. Ameriprise Financial Inc. grew its holdings in Chatham Lodging Trust by 413.3% during the third quarter. Ameriprise Financial Inc. now owns 813,825 shares of the real estate investment trust's stock valued at $5,464,000 after purchasing an additional 655,265 shares during the period. AQR Capital Management LLC increased its stake in Chatham Lodging Trust by 394.2% in the second quarter. AQR Capital Management LLC now owns 486,346 shares of the real estate investment trust's stock valued at $3,390,000 after purchasing an additional 387,937 shares in the last quarter. Finally, Kennedy Capital Management LLC raised its holdings in Chatham Lodging Trust by 24.0% in the third quarter. Kennedy Capital Management LLC now owns 801,619 shares of the real estate investment trust's stock worth $5,379,000 after purchasing an additional 155,023 shares during the period. 88.37% of the stock is currently owned by institutional investors and hedge funds.

Chatham Lodging Trust Company Profile

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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