Vanguard Group Inc. increased its stake in shares of Chesapeake Lodging Trust (NYSE:CHSP) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,430,269 shares of the real estate investment trust’s stock after buying an additional 395,442 shares during the period. Vanguard Group Inc. owned 16.06% of Chesapeake Lodging Trust worth $219,254,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CHSP. Prudential Financial Inc. raised its stake in shares of Chesapeake Lodging Trust by 21.0% in the second quarter. Prudential Financial Inc. now owns 2,337,226 shares of the real estate investment trust’s stock worth $54,341,000 after buying an additional 405,582 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of Chesapeake Lodging Trust during the second quarter worth about $6,602,000. First Trust Advisors LP raised its stake in shares of Chesapeake Lodging Trust by 713.6% in the second quarter. First Trust Advisors LP now owns 315,060 shares of the real estate investment trust’s stock worth $7,325,000 after buying an additional 276,336 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Chesapeake Lodging Trust by 2.5% in the first quarter. Goldman Sachs Group Inc. now owns 6,728,802 shares of the real estate investment trust’s stock worth $178,043,000 after buying an additional 165,344 shares during the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Chesapeake Lodging Trust during the second quarter worth about $3,839,000. 95.78% of the stock is currently owned by institutional investors.
Chesapeake Lodging Trust (NYSE:CHSP) opened at 22.85 on Friday. Chesapeake Lodging Trust has a 1-year low of $21.55 and a 1-year high of $29.91. The company has a 50-day moving average price of $23.70 and a 200-day moving average price of $24.34. The firm has a market capitalization of $1.34 billion, a P/E ratio of 19.12 and a beta of 1.21.
Chesapeake Lodging Trust (NYSE:CHSP) last issued its quarterly earnings data on Friday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.03. The business earned $169.40 million during the quarter, compared to the consensus estimate of $172.38 million. Chesapeake Lodging Trust had a return on equity of 6.68% and a net margin of 12.96%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 earnings per share. On average, equities research analysts predict that Chesapeake Lodging Trust will post $1.31 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 7.00%. The ex-dividend date was Wednesday, September 28th. Chesapeake Lodging Trust’s dividend payout ratio is presently 133.33%.
A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 4th. JMP Securities reaffirmed a “hold” rating on shares of Chesapeake Lodging Trust in a research report on Thursday, July 14th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $24.00 target price on shares of Chesapeake Lodging Trust in a research report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Chesapeake Lodging Trust currently has a consensus rating of “Hold” and a consensus price target of $26.17.
In related news, Director Thomas D. Eckert sold 21,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 44,178 shares in the company, valued at $1,119,470.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by corporate insiders.
About Chesapeake Lodging Trust
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.
Receive News & Ratings for Chesapeake Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.