Chatham Lodging Trust (NYSE:CLDT) Lifted to “Hold” at Zacks Investment Research

Chatham Lodging Trust (NYSE:CLDT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday, Zacks.com reports.

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. “

CLDT has been the subject of a number of other reports. ValuEngine lowered shares of Chatham Lodging Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. B. Riley reduced their price target on shares of Chatham Lodging Trust from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Barclays set a $18.00 price target on shares of Chatham Lodging Trust and gave the stock a “hold” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Chatham Lodging Trust currently has a consensus rating of “Hold” and a consensus price target of $19.00.

CLDT traded down $0.23 during trading on Tuesday, reaching $17.92. 188,329 shares of the company’s stock were exchanged, compared to its average volume of 238,627. Chatham Lodging Trust has a 1 year low of $16.29 and a 1 year high of $21.74. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market capitalization of $852.53 million, a P/E ratio of 9.19 and a beta of 1.06. The company’s fifty day simple moving average is $17.37 and its 200-day simple moving average is $18.67.

In other Chatham Lodging Trust news, Director Robert D. Perlmutter purchased 2,500 shares of Chatham Lodging Trust stock in a transaction on Monday, August 26th. The stock was bought at an average cost of $16.40 per share, with a total value of $41,000.00. Following the transaction, the director now owns 45,666 shares of the company’s stock, valued at approximately $748,922.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CLDT. Steward Partners Investment Advisory LLC acquired a new stake in shares of Chatham Lodging Trust during the 2nd quarter worth approximately $25,000. Phocas Financial Corp. acquired a new stake in shares of Chatham Lodging Trust during the 2nd quarter worth approximately $28,000. Bank of Montreal Can grew its stake in shares of Chatham Lodging Trust by 1,116.0% during the 2nd quarter. Bank of Montreal Can now owns 4,572 shares of the real estate investment trust’s stock worth $86,000 after purchasing an additional 4,196 shares during the period. Aperio Group LLC acquired a new stake in shares of Chatham Lodging Trust during the 2nd quarter worth approximately $135,000. Finally, Assetmark Inc. grew its stake in shares of Chatham Lodging Trust by 12.6% during the 2nd quarter. Assetmark Inc. now owns 7,292 shares of the real estate investment trust’s stock worth $138,000 after purchasing an additional 816 shares during the period. 85.07% 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 focused primarily on investing in upscale, extended-stay hotels and premium-branded, select-service hotels. The company owns interests in 137 hotels totaling 18,783 rooms/suites, comprised of 42 properties it wholly owns with an aggregate of 6,283 rooms/suites in 15 states and the District of Columbia and a minority investment in two joint ventures that own 95 hotels with an aggregate of 12,500 rooms/suites.

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