Chatham Lodging Trust (NYSE:CLDT) Lifted to Buy at Zacks Investment Research

Chatham Lodging Trust (NYSE:CLDTGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage currently has a $16.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price indicates a potential upside of 10.57% from the company’s previous close.

According to Zacks, “Chatham Lodging Trust is a self-advised hotel REIT, formed to invest in premium-branded upscale extended-stay and select-service hotels. The Company intends to invest primarily in hotels in large metropolitan markets in the United States. Chatham Lodging Trust expects that a significant portion of its portfolio will consist of hotels in the upscale extended-stay market, including brands such as Residence Inn by Marriott, Homewood Suites by Hilton and Summerfield Suites by Hyatt. It also intends to invest in premium-branded select-service hotels such as Courtyard by Marriott, Hampton Inn and Hampton Inn and Suites. “

Other equities analysts also recently issued research reports about the stock. TheStreet raised shares of Chatham Lodging Trust from a “d+” rating to a “c-” rating in a research note on Monday, April 18th. Oppenheimer assumed coverage on shares of Chatham Lodging Trust in a research report on Thursday, April 21st. They set an “outperform” rating and a $19.00 price target on the stock. Finally, StockNews.com began coverage on shares of Chatham Lodging Trust in a research report on Thursday, March 31st. They set a “sell” rating on the stock. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $16.40.

Shares of Chatham Lodging Trust stock traded down $0.04 on Tuesday, reaching $14.47. 21,556 shares of the stock were exchanged, compared to its average volume of 333,171. The company has a current ratio of 3.62, a quick ratio of 3.62 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average price of $13.78 and a two-hundred day moving average price of $13.38. Chatham Lodging Trust has a 1-year low of $11.00 and a 1-year high of $15.12. The firm has a market capitalization of $706.19 million, a PE ratio of -31.46 and a beta of 1.87.

Chatham Lodging Trust (NYSE:CLDTGet Rating) last released its quarterly earnings results on Thursday, February 24th. The real estate investment trust reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.43). Chatham Lodging Trust had a negative net margin of 9.03% and a negative return on equity of 2.31%. During the same quarter last year, the business earned ($0.18) earnings per share. Research analysts expect that Chatham Lodging Trust will post 1.04 EPS for the current year.

Several large investors have recently modified their holdings of CLDT. Two Sigma Advisers LP raised its holdings in Chatham Lodging Trust by 130.6% in the 3rd quarter. Two Sigma Advisers LP now owns 151,153 shares of the real estate investment trust’s stock worth $1,852,000 after acquiring an additional 85,600 shares during the period. Swiss National Bank boosted its position in Chatham Lodging Trust by 3.7% in the third quarter. Swiss National Bank now owns 107,400 shares of the real estate investment trust’s stock valued at $1,316,000 after buying an additional 3,800 shares in the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in Chatham Lodging Trust in the third quarter valued at about $163,000. Geode Capital Management LLC lifted its position in shares of Chatham Lodging Trust by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,026,357 shares of the real estate investment trust’s stock worth $12,572,000 after purchasing an additional 8,491 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its position in shares of Chatham Lodging Trust by 19.2% during the third quarter. Metropolitan Life Insurance Co NY now owns 15,059 shares of the real estate investment trust’s stock worth $184,000 after purchasing an additional 2,430 shares in the last quarter. 81.40% of the stock is owned by institutional investors.

Chatham Lodging Trust Company Profile (Get Rating)

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. At September, 30, 2020, The company owns interests in 86 hotels totaling 12,040 rooms/suites, comprised of 40 properties it wholly owns with an aggregate of 6,092 rooms/suites in 15 states and the District of Columbia and a minority investment in the Innkeepers joint ventures that owns 46 hotels with an aggregate of 5,948 rooms/suites.

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