Chesapeake Lodging Trust (CHSP) Receives Consensus Recommendation of “Hold” from Brokerages
Chesapeake Lodging Trust (NYSE:CHSP) has received a consensus recommendation of “Hold” from the ten brokerages that are covering the stock. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $26.17.
CHSP has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a report on Monday, August 29th. JMP Securities reissued a “hold” rating on shares of Chesapeake Lodging Trust in a report on Thursday, July 14th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $24.00 price target on shares of Chesapeake Lodging Trust in a report on Monday, June 27th.
Chesapeake Lodging Trust (NYSE:CHSP) traded up 0.83% during trading on Tuesday, reaching $22.99. 140,336 shares of the company traded hands. Chesapeake Lodging Trust has a 12-month low of $21.55 and a 12-month high of $29.91. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 19.24 and a beta of 1.21. The firm’s 50 day moving average price is $23.64 and its 200 day moving average price is $24.29.
Chesapeake Lodging Trust (NYSE:CHSP) last posted its earnings results on Friday, July 29th. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm earned $169.40 million during the quarter, compared to analysts’ expectations of $172.38 million. During the same quarter in the prior year, the company earned $0.68 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts expect that Chesapeake Lodging Trust will post $1.31 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 7.02%. The ex-dividend date was Wednesday, September 28th. Chesapeake Lodging Trust’s dividend payout ratio is currently 133.33%.
In other Chesapeake Lodging Trust news, Director Thomas D. Eckert sold 21,000 shares of the firm’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 sale, the director now owns 44,178 shares of the company’s stock, valued at approximately $1,119,470.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.20% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Spirit of America Management Corp NY raised its stake in shares of Chesapeake Lodging Trust by 10.3% in the third quarter. Spirit of America Management Corp NY now owns 45,100 shares of the real estate investment trust’s stock worth $1,033,000 after buying an additional 4,200 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Chesapeake Lodging Trust by 5.2% in the third quarter. Nisa Investment Advisors LLC now owns 14,200 shares of the real estate investment trust’s stock worth $325,000 after buying an additional 700 shares during the period. Macquarie Group Ltd. raised its stake 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 worth $467,000 after buying an additional 10,700 shares during the period. Mason Street Advisors LLC purchased a new stake in shares of Chesapeake Lodging Trust during the second quarter worth about $273,000. Finally, Royal Bank of Canada raised its stake 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 worth $693,000 after buying an additional 17,044 shares during the period. 95.74% of the stock is currently owned by institutional investors and hedge funds.
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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