Chatham Lodging Trust (NYSE:CLDT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday. The brokerage currently has a $24.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.16% from the company’s current price.

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. “

Several other research analysts also recently issued reports on the company. JMP Securities raised Chatham Lodging Trust from a “market perform” rating to an “outperform” rating in a research note on Monday, August 28th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $19.50 price objective on shares of Chatham Lodging Trust in a research note on Thursday, September 7th. Janney Montgomery Scott initiated coverage on Chatham Lodging Trust in a research note on Friday, September 15th. They issued a “neutral” rating and a $21.00 price objective for the company. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Chatham Lodging Trust in a research note on Thursday, September 21st. Finally, BidaskClub raised Chatham Lodging Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Chatham Lodging Trust presently has an average rating of “Hold” and a consensus target price of $20.92.

Shares of Chatham Lodging Trust (CLDT) traded up 0.42% on Friday, hitting $21.59. 170,206 shares of the stock traded hands. The stock has a 50 day moving average of $20.61 and a 200-day moving average of $20.03. The stock has a market cap of $845.64 million, a PE ratio of 32.71 and a beta of 1.07. Chatham Lodging Trust has a 1-year low of $16.45 and a 1-year high of $21.68.

Chatham Lodging Trust (NYSE:CLDT) last released its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.52). Chatham Lodging Trust had a net margin of 6.51% and a return on equity of 2.96%. The firm had revenue of $77.90 million during the quarter, compared to analyst estimates of $77.84 million. During the same period in the prior year, the company earned $0.69 EPS. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities research analysts expect that Chatham Lodging Trust will post $0.59 EPS for the current year.

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In other Chatham Lodging Trust news, Director Robert D. Perlmutter sold 2,566 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $20.37, for a total transaction of $52,269.42. Following the completion of the sale, the director now owns 33,258 shares of the company’s stock, valued at approximately $677,465.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Eqis Capital Management Inc. acquired a new stake in Chatham Lodging Trust during the 3rd quarter valued at approximately $251,000. Phocas Financial Corp. increased its position in Chatham Lodging Trust by 4.6% during the 2nd 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. bought a new position in shares of Chatham Lodging Trust during the 2nd quarter worth approximately $239,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Chatham Lodging Trust by 0.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,592 shares of the real estate investment trust’s stock worth $594,000 after buying an additional 102 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Chatham Lodging Trust by 28.5% during the 2nd quarter. State Street Corp now owns 1,133,956 shares of the real estate investment trust’s stock worth $22,774,000 after buying an additional 251,188 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

About Chatham Lodging Trust

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.

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Analyst Recommendations for Chatham Lodging Trust (NYSE:CLDT)

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