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

Chatham Lodging Trust (NYSE:CLDT) had its price target cut by analysts at Barclays from $13.00 to $12.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the real estate investment trust’s stock. Barclays‘s target price points to a potential upside of 30.58% from the stock’s current price.

Chatham Lodging Trust Stock Down 1.7 %

NYSE:CLDT traded down $0.16 during trading hours on Wednesday, hitting $9.19. The company’s stock had a trading volume of 291,740 shares, compared to its average volume of 213,439. The stock has a market capitalization of $449.39 million, a P/E ratio of -83.64 and a beta of 1.74. The stock has a fifty day moving average of $10.15 and a 200-day moving average of $10.18. The company has a current ratio of 3.08, a quick ratio of 3.08 and a debt-to-equity ratio of 0.49. Chatham Lodging Trust has a 52-week low of $8.92 and a 52-week high of $11.32.

Chatham Lodging Trust (NYSE:CLDT) last posted its earnings results on Tuesday, February 27th. The real estate investment trust reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.15 by ($0.38). The business had revenue of $72.28 million during the quarter, compared to analysts’ expectations of $70.46 million. Chatham Lodging Trust had a net margin of 0.85% and a return on equity of 0.33%. During the same period last year, the company earned $0.20 EPS. On average, equities 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

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of Chatham Lodging Trust during the first quarter worth about $29,000. Tower Research Capital LLC TRC grew its holdings in shares of Chatham Lodging Trust by 94.6% during the third quarter. Tower Research Capital LLC TRC now owns 3,353 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 1,630 shares during the last quarter. Quarry LP grew its holdings in shares of Chatham Lodging Trust by 146.1% during the second quarter. Quarry LP now owns 4,235 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 2,514 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Chatham Lodging Trust by 80.6% during the fourth quarter. Quadrant Capital Group LLC now owns 4,726 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 2,109 shares during the last quarter. Finally, Captrust Financial Advisors purchased a new position in shares of Chatham Lodging Trust during the second quarter worth about $51,000. Hedge funds and other institutional investors own 88.37% of the company’s stock.

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.