Chatham Lodging Trust (NYSE:CLDT) Price Target Cut to $12.00

Chatham Lodging Trust (NYSE:CLDT) had its price target reduced by research analysts at Barclays from $13.00 to $12.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s price objective would indicate a potential upside of 29.73% from the company’s previous close.

Chatham Lodging Trust Stock Up 1.0 %

Shares of Chatham Lodging Trust stock opened at $9.25 on Wednesday. The company has a market cap of $452.33 million, a P/E ratio of -84.09 and a beta of 1.74. The company has a debt-to-equity ratio of 0.49, a quick ratio of 3.08 and a current ratio of 3.08. Chatham Lodging Trust has a one year low of $8.92 and a one year high of $11.32. The firm has a fifty day moving average of $10.09 and a two-hundred day moving average of $10.17.

Chatham Lodging Trust (NYSE:CLDT) last posted its quarterly earnings results on Tuesday, February 27th. The real estate investment trust reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.38). Chatham Lodging Trust had a return on equity of 0.33% and a net margin of 0.85%. The company had revenue of $72.28 million for the quarter, compared to analyst estimates of $70.46 million. During the same period last year, the company earned $0.20 earnings per share. On average, analysts forecast that Chatham Lodging Trust will post 1.15 earnings per share for the current year.

Hedge Funds Weigh In On Chatham Lodging Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC acquired a new position in shares of Chatham Lodging Trust during the 1st quarter worth $29,000. Tower Research Capital LLC TRC grew its stake in Chatham Lodging Trust by 94.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,353 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 1,630 shares during the last quarter. Quarry LP grew its stake in Chatham Lodging Trust by 146.1% in the 2nd quarter. Quarry LP now owns 4,235 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 2,514 shares during the last quarter. Quadrant Capital Group LLC grew its stake in Chatham Lodging Trust by 80.6% in the 4th quarter. Quadrant Capital Group LLC now owns 4,726 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 2,109 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in Chatham Lodging Trust in the 2nd quarter valued at about $51,000. 88.37% of the stock is 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.