UPDATE: Oppenheimer Starts Chatham Lodging Trust (CLDT) at Outperform

Oppenheimer analyst Tyler Batory initiates coverage on Chatham Lodging Trust (NYSE: CLDT) with a Outperform rating and a price target of $19.00.

The analyst comments "We are initiating coverage of Chatham Lodging Trust (CLDT) with an Outperform rating and $19 price target. We believe its ownership of extended stay hotels is a competitive advantage given the attractive demand and margin characteristics of these assets. We see several catalysts for the stock this year, including: accretive capital recycling, the ramp of the recently opened Warner Center hotel and the return of corporate travel to its tech-focused hotels. The company also has a strong balance sheet, and we are optimistic it could reinstate the dividend later this year."

For an analyst ratings summary and ratings history on Chatham Lodging Trust click here. For more ratings news on Chatham Lodging Trust click here.

Shares of Chatham Lodging Trust closed at $14.06 yesterday.

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