B.Riley FBR Remains a Buy on Chatham Lodging (CLDT)

By Carrie Williams

B.Riley FBR analyst Bryan Maher reiterated a Buy rating on Chatham Lodging (CLDTResearch Report) today and set a price target of $9.00. The company’s shares closed last Wednesday at $6.17.

According to TipRanks.com, Maher has 0 stars on 0-5 stars ranking scale with an average return of -5.8% and a 48.0% success rate. Maher covers the Financial sector, focusing on stocks such as Industrial Logistics Properties, Diversified Healthcare Trust, and Braemar Hotels & Resorts.

Currently, the analyst consensus on Chatham Lodging is a Moderate Buy with an average price target of $7.88.

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Based on Chatham Lodging’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $60.21 million and GAAP net loss of $27.78 million. In comparison, last year the company earned revenue of $75.68 million and had a net profit of $1.61 million.

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Chatham Lodging Trust engages in the acquisition and investment in hotel properties. It focuses on the upscale extended-stay and premium branded select-service hotels. The firm’s management evaluates the company’s hotels as a single industry segment because all of the hotels have similar economic characteristics and provide similar services to similar types of customers. The company was founded in 2009 and is headquartered in West Palm Beach, FL.