Stifel raised the firm’s price target on Chatham Lodging (CLDT) to $10 from $8.75 and keeps a Buy rating on the shares. The firm notes Chatham Lodging announced this morning that the company had acquired six hotels totaling 589 rooms for $92M, or about $156k/key. On 2025 hotel NOI, the acquisition was stated to be completed at a 10% cap rate. Additionally, the company announced a dividend increase concurrently with the acquisition announcement.
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