StockNews.com Downgrades Chatham Lodging Trust (NYSE:CLDT) to Hold

Chatham Lodging Trust (NYSE:CLDT) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Separately, Alliance Global Partners assumed coverage on Chatham Lodging Trust in a research report on Wednesday, December 11th. They set a “buy” rating and a $12.00 target price on the stock.

Chatham Lodging Trust Trading Down 1.3 %

NYSE:CLDT opened at $7.30 on Wednesday. The stock has a market capitalization of $357.27 million, a price-to-earnings ratio of -31.72 and a beta of 1.82. Chatham Lodging Trust has a 52 week low of $7.24 and a 52 week high of $10.22. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $8.25 and a 200 day moving average of $8.61.

Institutional Investors Weigh In On Chatham Lodging Trust

A number of large investors have recently made changes to their positions in CLDT. Donald Smith & CO. Inc. lifted its position in Chatham Lodging Trust by 30.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 4,497,679 shares of the real estate investment trust’s stock worth $40,254,000 after acquiring an additional 1,055,999 shares during the period. State Street Corp raised its stake in shares of Chatham Lodging Trust by 1.1% in the third quarter. State Street Corp now owns 1,634,114 shares of the real estate investment trust’s stock worth $14,036,000 after purchasing an additional 17,428 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Chatham Lodging Trust by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,285,326 shares of the real estate investment trust’s stock worth $10,953,000 after purchasing an additional 26,129 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Chatham Lodging Trust by 53.4% during the fourth quarter. JPMorgan Chase & Co. now owns 970,392 shares of the real estate investment trust’s stock worth $8,685,000 after purchasing an additional 337,842 shares during the period. Finally, Bank of America Corp DE boosted its position in Chatham Lodging Trust by 9.5% in the fourth quarter. Bank of America Corp DE now owns 682,486 shares of the real estate investment trust’s stock valued at $6,108,000 after buying an additional 58,943 shares during the last quarter. 88.37% of the stock is owned by hedge funds and other institutional investors.

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.