Insider Buying: Chesapeake Lodging Trust (CHSP) CEO Acquires 5,000 Shares of Stock
Chesapeake Lodging Trust (NYSE:CHSP) CEO James L. Francis bought 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The shares were bought at an average price of $22.79 per share, with a total value of $113,950.00. Following the transaction, the chief executive officer now owns 495,572 shares of the company’s stock, valued at approximately $11,294,085.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Chesapeake Lodging Trust (NYSE:CHSP) opened at 22.88 on Wednesday. The stock has a 50 day moving average of $22.52 and a 200 day moving average of $23.87. Chesapeake Lodging Trust has a 52 week low of $20.81 and a 52 week high of $27.78. The stock has a market cap of $1.34 billion, a P/E ratio of 19.46 and a beta of 1.03.
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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.03. Chesapeake Lodging Trust had a return on equity of 6.60% and a net margin of 12.77%. The company earned $164.50 million during the quarter, compared to the consensus estimate of $167.65 million. During the same quarter in the prior year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts expect that Chesapeake Lodging Trust will post $1.15 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of CHSP. American Century Companies Inc. bought a new position in Chesapeake Lodging Trust during the second quarter valued at about $3,839,000. AJO LP bought a new position in Chesapeake Lodging Trust during the second quarter valued at about $263,000. Vanguard Group Inc. raised its position in 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 in the last quarter. Mason Street Advisors LLC bought a new position in Chesapeake Lodging Trust during the second quarter valued at about $273,000. Finally, Macquarie Group Ltd. raised 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 valued at $467,000 after buying an additional 10,700 shares in the last quarter. Institutional investors and hedge funds own 97.20% of the company’s stock.
A number of equities research analysts recently issued reports on CHSP shares. Zacks Investment Research downgraded shares of Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a research note on Monday, August 29th. Deutsche Bank AG decreased their price target on shares of Chesapeake Lodging Trust from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, November 2nd. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the company. Chesapeake Lodging Trust has a consensus rating of “Hold” and an average target price of $25.20.
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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