Chesapeake Lodging Trust (CHSP) Stock Rating Lowered by Zacks Investment Research
Chesapeake Lodging Trust (NYSE:CHSP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a 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. “
A number of other research firms also recently commented on CHSP. JMP Securities reissued a “hold” rating on shares of Chesapeake Lodging Trust in a 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 report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $26.17.
Chesapeake Lodging Trust (NYSE:CHSP) traded up 0.71% during trading on Tuesday, hitting $22.77. 357,296 shares of the company were exchanged. The company has a 50-day moving average of $24.31 and a 200-day moving average of $24.48. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 19.05 and a beta of 1.21. Chesapeake Lodging Trust has a 12 month low of $21.55 and a 12 month high of $29.91.
Chesapeake Lodging Trust (NYSE:CHSP) last released its quarterly earnings data on Friday, July 29th. The real estate investment trust reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $169.40 million for the quarter, compared to analysts’ expectations of $172.38 million. Chesapeake Lodging Trust had a return on equity of 6.68% and a net margin of 12.96%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.68 EPS. Analysts forecast that Chesapeake Lodging Trust will post $1.31 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date is Wednesday, September 28th. Chesapeake Lodging Trust’s dividend payout ratio is presently 133.33%.
In other news, Director Thomas D. Eckert sold 21,000 shares of the business’s 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 completion of the transaction, the director now owns 44,178 shares of the company’s stock, valued at $1,119,470.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Chesapeake Lodging Trust by 113.8% in the second quarter. Macquarie Group Ltd. now owns 20,100 shares of the real estate investment trust’s stock valued at $467,000 after buying an additional 10,700 shares during the period. Mason Street Advisors LLC bought a new position in shares of Chesapeake Lodging Trust during the second quarter valued at approximately $273,000. Royal Bank of Canada raised its position in shares of Chesapeake Lodging Trust by 133.5% in the second quarter. Royal Bank of Canada now owns 29,808 shares of the real estate investment trust’s stock valued at $693,000 after buying an additional 17,044 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Chesapeake Lodging Trust by 8.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 231,868 shares of the real estate investment trust’s stock valued at $5,391,000 after buying an additional 18,020 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Chesapeake Lodging Trust during the second quarter valued at approximately $116,000. 95.78% of the stock is 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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