Equities research analysts at FBR & Co started coverage on shares of Condor Hospitality Trust, Inc. (NASDAQ:CDOR) in a note issued to investors on Wednesday. The brokerage set a “buy” rating and a $12.00 price target on the financial services provider’s stock. FBR & Co’s price target would indicate a potential upside of 14.94% from the company’s current price.

The analysts wrote, “We are initiating coverage of Condor Hospitality Trust, Inc. (CDOR) with a Buy rating and a 12-month price target of $12 per share. Condor, formerly known as Supertel, has undergone a dramatic transformation from over 100 economy hotels to one that is acquiring upscale and upper-midscale select-service and extended stay hotels in top 100 MSAs, with a focus on MSAs 21–60. These markets have, on average, experienced lower new room supply growth than the top 20 MSAs. Condor focuses on premium hotel brands, such as Marriott, Hilton, IHG, and Hyatt, as it believes they are best positioned to appeal to both established transient customers and newer millennial travelers. We have toured several of Condor’s recent acquisitions and can attest to their high-quality and appealing décor. From a room demand standpoint, STR forecasts that, through 2021, the upper-midscale sector should experience demand growth greater than the industry overall, while the upscale segment should see demand increase at a rate of two times the industry average.””

CDOR has been the subject of several other reports. KeyCorp began coverage on shares of Condor Hospitality Trust in a research report on Friday, May 19th. They set a “sector weight” rating for the company. ValuEngine upgraded shares of Condor Hospitality Trust from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. DA Davidson set a $12.00 price objective on shares of Condor Hospitality Trust and gave the stock a “buy” rating in a research report on Wednesday, May 17th. Zacks Investment Research cut shares of Condor Hospitality Trust from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Robert W. Baird began coverage on shares of Condor Hospitality Trust in a research report on Thursday, July 13th. They set a “neutral” rating and a $11.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Condor Hospitality Trust currently has a consensus rating of “Hold” and an average price target of $11.80.

Condor Hospitality Trust (NASDAQ CDOR) opened at 10.44 on Wednesday. The stock’s 50 day moving average is $10.53 and its 200-day moving average is $10.90. The company’s market capitalization is $121.42 million. Condor Hospitality Trust has a 12 month low of $10.00 and a 12 month high of $20.52.

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In other news, CEO J William Blackham III acquired 5,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was bought at an average cost of $10.49 per share, for a total transaction of $52,450.00. Following the completion of the transaction, the chief executive officer now directly owns 181,385 shares in the company, valued at approximately $1,902,728.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 44.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Condor Hospitality Trust by 30.2% during the second quarter. Vanguard Group Inc. now owns 13,092 shares of the financial services provider’s stock worth $140,000 after buying an additional 3,039 shares during the period. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Condor Hospitality Trust during the second quarter worth $315,000. RMR Advisors LLC increased its position in shares of Condor Hospitality Trust by 17.9% during the second quarter. RMR Advisors LLC now owns 68,655 shares of the financial services provider’s stock worth $736,000 after buying an additional 10,400 shares during the period. Dubuque Bank & Trust Co. acquired a new stake in shares of Condor Hospitality Trust during the second quarter worth $887,000. Finally, UBS Oconnor LLC acquired a new stake in shares of Condor Hospitality Trust during the first quarter worth $1,325,000. Institutional investors own 21.20% of the company’s stock.

Condor Hospitality Trust Company Profile

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