Janney Montgomery Scott assumed coverage on shares of Chatham Lodging Trust (REIT) (NYSE:CLDT) in a report issued on Friday, MarketBeat reports. The brokerage set a “neutral” rating and a $21.00 price target on the real estate investment trust’s stock. Janney Montgomery Scott’s target price suggests a potential upside of 0.24% from the company’s current price.

A number of other equities analysts have also recently weighed in on CLDT. JMP Securities raised Chatham Lodging Trust (REIT) from a “market perform” rating to an “outperform” rating in a report on Monday, August 28th. Stifel Nicolaus reissued a “hold” rating and issued a $19.50 price target on shares of Chatham Lodging Trust (REIT) in a report on Thursday, September 7th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.09.

Shares of Chatham Lodging Trust (NYSE CLDT) traded down 0.29% during mid-day trading on Friday, reaching $20.88. The company’s stock had a trading volume of 251,273 shares. The company’s 50-day moving average is $20.24 and its 200 day moving average is $19.87. Chatham Lodging Trust has a 1-year low of $16.45 and a 1-year high of $21.55. The firm has a market capitalization of $817.83 million, a P/E ratio of 31.64 and a beta of 1.05.

Chatham Lodging Trust (REIT) (NYSE:CLDT) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.52). Chatham Lodging Trust (REIT) had a return on equity of 3.76% and a net margin of 8.73%. The company had revenue of $77.90 million during the quarter, compared to analyst estimates of $77.84 million. During the same period last year, the firm earned $0.69 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. On average, analysts expect that Chatham Lodging Trust will post $0.59 earnings per share for the current year.

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In other news, Director Robert D. Perlmutter sold 2,566 shares of Chatham Lodging Trust (REIT) stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $20.37, for a total value of $52,269.42. Following the completion of the sale, the director now owns 33,258 shares of the company’s stock, valued at $677,465.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.60% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Phocas Financial Corp. grew its position in shares of Chatham Lodging Trust (REIT) by 4.6% in the second quarter. Phocas Financial Corp. now owns 264,225 shares of the real estate investment trust’s stock valued at $5,308,000 after purchasing an additional 11,672 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Chatham Lodging Trust (REIT) in the second quarter valued at $239,000. The Manufacturers Life Insurance Company grew its position in shares of Chatham Lodging Trust (REIT) by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 29,592 shares of the real estate investment trust’s stock valued at $594,000 after purchasing an additional 102 shares during the period. State Street Corp grew its position in shares of Chatham Lodging Trust (REIT) by 28.5% in the second quarter. State Street Corp now owns 1,133,956 shares of the real estate investment trust’s stock valued at $22,774,000 after purchasing an additional 251,188 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in shares of Chatham Lodging Trust (REIT) by 98.9% in the second quarter. Goldman Sachs Group Inc. now owns 217,028 shares of the real estate investment trust’s stock valued at $4,360,000 after purchasing an additional 107,940 shares during the period. 83.10% of the stock is owned by institutional investors and hedge funds.

About Chatham Lodging Trust (REIT)

Chatham Lodging Trust is a real estate investment trust. The Company invests primarily in upscale extended-stay and premium-branded select-service hotels. All of the Company’s assets are held by, and all of its operations are conducted through Chatham Lodging, L.P. (the Operating Partnership). As of December 31, 2016, the Company owned 38 hotels with an aggregate of 5,712 rooms located in 15 states and the District of Columbia.

Analyst Recommendations for Chatham Lodging Trust (REIT) (NYSE:CLDT)

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