Chatham Lodging price target lowered to $14 from $15 at B. Riley

B. Riley analyst Bryan Maher lowered the firm’s price target on Chatham Lodging Trust to $14 from $15 and keeps a Buy rating on the shares post the Q2 report. The analyst sees modestly higher interest expense and continued valuation multiple compression, which the firm notes has been impacting the lodging real estate investment trusts as interest rates have increased and concerns of an impending recession have weighed on shares.