Chesapeake Lodging Trust (CHSP) Receives Consensus Recommendation of “Hold” from Brokerages
Chesapeake Lodging Trust (NYSE:CHSP) has been assigned a consensus rating of “Hold” from the ten ratings firms that are currently covering the company. Two equities research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $26.17.
A number of research analysts have weighed in on CHSP shares. Zacks Investment Research cut shares of Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a research report on Monday, August 29th. JMP Securities reiterated a “hold” rating on shares of Chesapeake Lodging Trust in a research report on Thursday, July 14th. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $24.00 price objective on shares of Chesapeake Lodging Trust in a research report on Monday, June 27th.
In other news, Director Thomas D. Eckert sold 21,000 shares of the company’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $25.34, for a total value of $532,140.00. Following the transaction, the director now directly owns 44,178 shares in the company, valued at $1,119,470.52. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.20% of the stock is currently owned by insiders.
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A number of hedge funds have recently added to or reduced their stakes in the company. Spirit of America Management Corp NY raised its stake in 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 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 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 acquired a new stake in Chesapeake Lodging Trust during the second quarter worth $273,000. Finally, Royal Bank of Canada raised its stake 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 period. 95.74% of the stock is owned by institutional investors.
Shares of Chesapeake Lodging Trust (NYSE:CHSP) traded up 0.83% on Tuesday, reaching $22.99. 140,336 shares of the company were exchanged. The company’s 50-day moving average is $23.64 and its 200-day moving average is $24.29. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 19.24 and a beta of 1.21. Chesapeake Lodging Trust has a 52 week low of $21.55 and a 52 week high of $29.91.
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 (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.03. The business had revenue of $169.40 million for the quarter, compared to analysts’ expectations of $172.38 million. Chesapeake Lodging Trust had a net margin of 12.96% and a return on equity of 6.68%. Chesapeake Lodging Trust’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 EPS. On average, equities analysts expect that Chesapeake Lodging Trust will post $1.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Friday, September 30th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.02%. The ex-dividend date of this dividend was Wednesday, September 28th. Chesapeake Lodging Trust’s payout ratio is presently 133.33%.
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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