Chatham Lodging price target lowered to $12 from $13 at Barclays

Barclays analyst Anthony Powell lowered the firm’s price target on Chatham Lodging to $12 from $13 and keeps an Overweight rating on the shares as part of Q1 earnings preview for the lodging real estate investment trusts. March RevPAR declined 2% year-over-year due to holiday timing shifts and other issues, likely a bit softer than expected, the analyst tells investors in a research note. However, the firm says the year was expected to be back half weighted and that it generally expects fiscal year guidance reiterations.