Chesapeake Lodging Trust (NYSE:CHSP) Upgraded by Zacks Investment Research to Hold

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Zacks Investment Research upgraded shares of Chesapeake Lodging Trust (NYSE:CHSP) from a sell rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

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. “

A number of other equities research analysts have also commented on CHSP. Wells Fargo & Co restated a hold rating on shares of Chesapeake Lodging Trust in a research report on Friday, August 9th. Robert W. Baird lowered Chesapeake Lodging Trust from an outperform rating to a neutral rating and set a $31.00 price target on the stock. in a research report on Wednesday, May 8th. Finally, Deutsche Bank set a $27.00 price target on Chesapeake Lodging Trust and gave the stock a hold rating in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and an average target price of $30.00.

NYSE CHSP opened at $26.18 on Tuesday. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 2.19 and a beta of 0.97. Chesapeake Lodging Trust has a one year low of $23.68 and a one year high of $33.81. The stock’s 50 day simple moving average is $27.70. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.60 and a current ratio of 1.60.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, June 27th. This represents a $1.60 dividend on an annualized basis and a yield of 6.11%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is presently 68.38%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHSP. Norges Bank bought a new stake in Chesapeake Lodging Trust during the 4th quarter worth approximately $20,831,000. BlackRock Inc. grew its position in Chesapeake Lodging Trust by 5.2% during the 1st quarter. BlackRock Inc. now owns 11,028,116 shares of the real estate investment trust’s stock worth $306,690,000 after acquiring an additional 541,910 shares during the last quarter. Centersquare Investment Management LLC grew its position in Chesapeake Lodging Trust by 28.5% during the 2nd quarter. Centersquare Investment Management LLC now owns 1,933,338 shares of the real estate investment trust’s stock worth $54,945,000 after acquiring an additional 428,358 shares during the last quarter. Water Island Capital LLC bought a new stake in Chesapeake Lodging Trust during the 2nd quarter worth approximately $11,558,000. Finally, ARP Americas LP bought a new position in Chesapeake Lodging Trust in the 2nd quarter valued at $6,570,000. Institutional investors and hedge funds own 96.63% of the company’s stock.

Chesapeake Lodging Trust Company Profile

Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States.

See Also: Equity Income

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