Chesapeake Lodging Trust (NYSE:CHSP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.
According to Zacks, “Chesapeake Lodging Trust is a real estate investment trust. It is a self-advised hotel investment company focused on investments in upper upscale hotels in business, airport, convention markets, and select-service hotels in urban settings or locations in the United States. “
Several other brokerages have also recently commented on CHSP. JMP Securities reiterated a “hold” rating on shares of Chesapeake Lodging Trust in a research report on Thursday, July 14th. Deutsche Bank AG reissued a “hold” rating and set a $24.00 price objective on shares of Chesapeake Lodging Trust in a research note on Monday, June 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $26.17.
Chesapeake Lodging Trust (NYSE:CHSP) opened at 22.34 on Tuesday. Chesapeake Lodging Trust has a 52 week low of $21.55 and a 52 week high of $29.91. The stock’s 50 day moving average is $24.23 and its 200 day moving average is $24.47. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 18.69 and a beta of 1.21.
Chesapeake Lodging Trust (NYSE:CHSP) last issued its quarterly earnings results on Friday, July 29th. The real estate investment trust reported $0.44 EPS for the quarter, missing the consensus estimate of $0.47 by $0.03. Chesapeake Lodging Trust had a return on equity of 6.68% and a net margin of 12.96%. The business had revenue of $169.40 million for the quarter, compared to analyst estimates of $172.38 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts expect that Chesapeake Lodging Trust will post $1.31 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date of this dividend is Wednesday, September 28th. Chesapeake Lodging Trust’s payout ratio is currently 133.33%.
In other Chesapeake Lodging Trust news, Director Thomas D. Eckert sold 21,000 shares of Chesapeake Lodging Trust stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $25.34, for a total value of $532,140.00. Following the transaction, the director now owns 44,178 shares of the company’s stock, valued at $1,119,470.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC raised its position in shares of Chesapeake Lodging Trust by 96.0% in the second quarter. Acrospire Investment Management LLC now owns 4,900 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 2,400 shares during the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of Chesapeake Lodging Trust during the second quarter worth $116,000. BlackRock Japan Co. Ltd raised its position in shares of Chesapeake Lodging Trust by 106.1% in the second quarter. BlackRock Japan Co. Ltd now owns 6,526 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 3,359 shares during the last quarter. Pacad Investment Ltd. bought a new position in shares of Chesapeake Lodging Trust during the second quarter worth $163,000. Finally, PineBridge Investments L.P. raised its position in shares of Chesapeake Lodging Trust by 3.8% in the second quarter. PineBridge Investments L.P. now owns 7,619 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 278 shares during the last quarter. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
Chesapeake Lodging Trust Company Profile
Chesapeake Lodging Trust (the Trust) is a self-advised real estate investment trust (REIT). The Trust is focused on investments primarily in upper-upscale hotels in business and convention markets and, on service hotels in urban settings or locations in the United States. The Trust owns over 20 hotels with over 6,700 rooms in approximately nine states and the District of Columbia.
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