UPDATE: Cantor Fitzgerald Initiates Coverage on Chatham Lodging Trust on Solid Upside Potential

In a report published Tuesday, Cantor Fitzgerald analyst Robert LaFleur initiated coverage on

with a Buy rating and $21.50 price target. In the report, Cantor Fitzgerald noted, “We are initiating coverage of Chatham Lodging Trust with a BUY rating and a $21.50 target price. Chatham is a small-cap hotel REIT focused on premium-branded select service hotels, particularly in the extended stay segment. In our view, Chatham offers an attractive combination of same-store sales growth opportunities and additional growth via acquisitions. Moreover, its JV transactions with Cerberus have generated significant cash returns, and we believe these investments are an underappreciated source of value. Offering what we believe to be solid upside potential and an nice dividend yield, we find Chatham shares attractive.” Chatham Lodging Trust closed on Monday at $18.15.