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 research note issued 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. “
Other analysts also recently issued research reports about the stock. Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 price objective on shares of Chesapeake Lodging Trust in a report on Monday, June 27th. JMP Securities reiterated a “hold” rating on shares of Chesapeake Lodging Trust in a report on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.17.
Shares of Chesapeake Lodging Trust (NYSE:CHSP) traded up 0.71% during mid-day trading on Tuesday, hitting $22.77. The company had a trading volume of 357,296 shares. Chesapeake Lodging Trust has a 52-week low of $21.55 and a 52-week high of $29.91. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 19.05 and a beta of 1.21. The firm has a 50-day moving average price of $24.31 and a 200 day moving average price of $24.48.
Chesapeake Lodging Trust (NYSE:CHSP) last released its quarterly earnings results on Friday, July 29th. The real estate investment trust reported $0.44 earnings per share 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 company had revenue of $169.40 million for the quarter, compared to analyst estimates of $172.38 million. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts expect that Chesapeake Lodging Trust will post $1.31 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.03%. Chesapeake Lodging Trust’s dividend payout ratio is currently 133.33%.
In other news, Director Thomas D. Eckert sold 21,000 shares of the firm’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 transaction of $532,140.00. Following the completion of the sale, the director now owns 44,178 shares in the company, valued at approximately $1,119,470.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.20% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. boosted its position in 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 worth $467,000 after buying an additional 10,700 shares during the last quarter. Mason Street Advisors LLC bought a new position in Chesapeake Lodging Trust during the second quarter worth $273,000. Royal Bank of Canada boosted its position in 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 worth $693,000 after buying an additional 17,044 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in 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 worth $5,391,000 after buying an additional 18,020 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in Chesapeake Lodging Trust during the second quarter worth $116,000. Institutional investors and hedge funds own 95.78% of the company’s stock.
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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