Alliance Global Partners Begins Coverage on Chatham Lodging Trust (NYSE:CLDT)

Research analysts at Alliance Global Partners assumed coverage on shares of Chatham Lodging Trust (NYSE:CLDT) in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $12.00 price target on the real estate investment trust’s stock. Alliance Global Partners’ price objective indicates a potential upside of 21.58% from the company’s current price.

Separately, StockNews.com upgraded shares of Chatham Lodging Trust from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th.

Chatham Lodging Trust Stock Up 1.9 %

NYSE CLDT opened at $9.87 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. Chatham Lodging Trust has a 52 week low of $7.60 and a 52 week high of $11.32. The firm has a market capitalization of $482.74 million, a price-to-earnings ratio of -42.91 and a beta of 1.82. The company has a fifty day moving average of $8.75 and a two-hundred day moving average of $8.56.

Hedge Funds Weigh In On Chatham Lodging Trust

Several hedge funds have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in shares of Chatham Lodging Trust by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 61,705 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 1,702 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Chatham Lodging Trust by 322.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,939 shares of the real estate investment trust’s stock worth $85,000 after buying an additional 7,587 shares during the period. Panagora Asset Management Inc. grew its position in shares of Chatham Lodging Trust by 44.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 249,698 shares of the real estate investment trust’s stock worth $2,127,000 after buying an additional 76,439 shares in the last quarter. Quest Partners LLC increased its stake in shares of Chatham Lodging Trust by 3,633.4% during the second quarter. Quest Partners LLC now owns 72,055 shares of the real estate investment trust’s stock valued at $614,000 after buying an additional 70,125 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in shares of Chatham Lodging Trust in the second quarter valued at about $46,000. Institutional investors own 88.37% of the company’s stock.

About Chatham Lodging Trust

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.