Zacks Investment Research downgraded shares of Chesapeake Lodging Trust (NYSE:CHSP) from a buy rating to a hold rating in a report released on Thursday.

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 analysts have also issued reports on CHSP. TheStreet lowered Chesapeake Lodging Trust from a b- rating to a c+ rating in a research report on Tuesday, May 30th. BidaskClub upgraded Chesapeake Lodging Trust from a hold rating to a buy rating in a research report on Friday, June 16th. Robert W. Baird reiterated an outperform rating and set a $27.00 price target (up previously from $26.00) on shares of Chesapeake Lodging Trust in a research report on Friday, June 16th. Finally, Deutsche Bank AG reiterated a hold rating and set a $22.00 price target (up previously from $21.00) on shares of Chesapeake Lodging Trust in a research report on Tuesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and an average price target of $25.25.

Chesapeake Lodging Trust (CHSP) traded down 0.93% on Thursday, reaching $24.55. The company’s stock had a trading volume of 269,473 shares. The firm has a 50-day moving average price of $24.67 and a 200 day moving average price of $24.42. Chesapeake Lodging Trust has a 52-week low of $20.81 and a 52-week high of $27.08. The firm has a market capitalization of $1.45 billion, a P/E ratio of 22.56 and a beta of 1.13.

Chesapeake Lodging Trust (NYSE:CHSP) last announced its quarterly earnings results on Tuesday, April 25th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.05. Chesapeake Lodging Trust had a return on equity of 6.07% and a net margin of 11.77%. The company had revenue of $134.90 million during the quarter, compared to analyst estimates of $132.06 million. During the same quarter in the previous year, the firm posted $0.44 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. Equities analysts anticipate that Chesapeake Lodging Trust will post $0.79 earnings per share for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.40 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.60 annualized dividend and a dividend yield of 6.52%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is 146.79%.

Hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Chesapeake Lodging Trust by 12.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,444 shares of the real estate investment trust’s stock valued at $106,000 after buying an additional 477 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of Chesapeake Lodging Trust by 46.9% in the first quarter. Daiwa Securities Group Inc. now owns 4,700 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 1,500 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of Chesapeake Lodging Trust during the first quarter valued at $123,000. Quantbot Technologies LP purchased a new stake in shares of Chesapeake Lodging Trust during the first quarter valued at $184,000. Finally, ProShare Advisors LLC raised its stake in shares of Chesapeake Lodging Trust by 3.5% in the first quarter. ProShare Advisors LLC now owns 11,272 shares of the real estate investment trust’s stock valued at $197,000 after buying an additional 386 shares during the period. Institutional investors and hedge funds own 97.53% of the company’s stock.

About Chesapeake Lodging Trust

Chesapeake Lodging Trust is a real estate investment trust. The Company is focused on investments primarily in upper-upscale hotels in various business and convention markets and, on a selective basis, select-service hotels in urban settings or other locations in the United States. The Company operates through the hotel ownership segment.

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