Los Angeles Capital Management & Equity Research Inc. Boosts Position in Chesapeake Lodging Trust (CHSP)
Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Chesapeake Lodging Trust (NYSE:CHSP) by 130.1% during the third quarter, Holdings Channel reports. The fund owned 36,430 shares of the real estate investment trust’s stock after buying an additional 20,595 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned 0.06% of Chesapeake Lodging Trust worth $834,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Wells Fargo & Company MN boosted its stake in shares of Chesapeake Lodging Trust by 13.9% in the third quarter. Wells Fargo & Company MN now owns 453,699 shares of the real estate investment trust’s stock valued at $10,390,000 after buying an additional 55,463 shares during the period. American Century Companies Inc. bought a new stake in shares of Chesapeake Lodging Trust during the second quarter valued at about $3,839,000. First Trust Advisors LP boosted its stake in shares of Chesapeake Lodging Trust by 26.2% in the third quarter. First Trust Advisors LP now owns 397,526 shares of the real estate investment trust’s stock valued at $9,103,000 after buying an additional 82,466 shares during the period. Vanguard Group Inc. boosted its stake in shares of Chesapeake Lodging Trust by 4.4% in the second quarter. Vanguard Group Inc. now owns 9,430,269 shares of the real estate investment trust’s stock valued at $219,254,000 after buying an additional 395,442 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Chesapeake Lodging Trust by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 1,423,241 shares of the real estate investment trust’s stock valued at $32,593,000 after buying an additional 3,992 shares during the period. 95.74% of the stock is currently owned by institutional investors.
Chesapeake Lodging Trust (NYSE:CHSP) traded up 0.24% during midday trading on Friday, reaching $25.34. The company’s stock had a trading volume of 237,347 shares. The stock has a 50-day moving average price of $25.41 and a 200 day moving average price of $24.22. Chesapeake Lodging Trust has a 12 month low of $20.81 and a 12 month high of $27.18. The company has a market cap of $1.49 billion, a PE ratio of 21.55 and a beta of 1.08.
Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by $0.03. The business earned $164.50 million during the quarter, compared to the consensus estimate of $167.65 million. Chesapeake Lodging Trust had a return on equity of 6.60% and a net margin of 12.77%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 earnings per share. Analysts expect that Chesapeake Lodging Trust will post $1.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.31%. The ex-dividend date is Wednesday, December 28th. Chesapeake Lodging Trust’s payout ratio is 135.59%.
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Several brokerages recently issued reports on CHSP. Zacks Investment Research cut Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Deutsche Bank AG cut their price target on Chesapeake Lodging Trust from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, November 2nd. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.75.
In other news, Director George F. Mckenzie acquired 1,500 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were purchased at an average price of $22.84 per share, for a total transaction of $34,260.00. Following the completion of the transaction, the director now owns 17,178 shares of the company’s stock, valued at $392,345.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James L. Francis acquired 2,500 shares of the firm’s stock in a transaction on Monday, November 28th. The stock was purchased at an average price of $23.26 per share, for a total transaction of $58,150.00. Following the transaction, the chief executive officer now directly owns 498,072 shares of the company’s stock, valued at approximately $11,585,154.72. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by company 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.
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