Chesapeake Lodging Trust (CHSP) Given Average Recommendation of “Buy” by Analysts
Shares of Chesapeake Lodging Trust (NYSE:CHSP) have earned an average recommendation of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $26.50.
A number of equities analysts recently commented on the company. SunTrust Banks, Inc. reiterated a “hold” rating and issued a $23.00 price target on shares of Chesapeake Lodging Trust in a research note on Tuesday. BidaskClub raised shares of Chesapeake Lodging Trust from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 28th. Robert W. Baird set a $27.00 target price on shares of Chesapeake Lodging Trust and gave the stock a “buy” rating in a report on Sunday, October 1st. Janney Montgomery Scott raised shares of Chesapeake Lodging Trust from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.00 to $32.00 in a report on Wednesday, September 27th. Finally, KeyCorp reissued a “hold” rating on shares of Chesapeake Lodging Trust in a report on Sunday, September 24th.
A number of hedge funds and other institutional investors have recently modified their holdings of CHSP. BlackRock Inc. lifted its holdings in Chesapeake Lodging Trust by 9,194.7% in the first quarter. BlackRock Inc. now owns 8,553,639 shares of the real estate investment trust’s stock worth $204,947,000 after acquiring an additional 8,461,612 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in Chesapeake Lodging Trust in the second quarter worth about $18,597,000. Bank of New York Mellon Corp lifted its holdings in Chesapeake Lodging Trust by 29.1% in the second quarter. Bank of New York Mellon Corp now owns 2,723,171 shares of the real estate investment trust’s stock worth $66,637,000 after acquiring an additional 614,111 shares during the last quarter. Northern Trust Corp lifted its holdings in Chesapeake Lodging Trust by 27.0% in the second quarter. Northern Trust Corp now owns 2,239,578 shares of the real estate investment trust’s stock worth $54,803,000 after acquiring an additional 476,562 shares during the last quarter. Finally, M&T Bank Corp bought a new position in Chesapeake Lodging Trust in the second quarter worth about $8,301,000. 98.54% of the stock is currently owned by hedge funds and other institutional investors.
Chesapeake Lodging Trust (CHSP) traded down 0.17% during mid-day trading on Thursday, hitting $28.61. The stock had a trading volume of 430,132 shares. Chesapeake Lodging Trust has a 12-month low of $20.81 and a 12-month high of $28.77. The firm has a market cap of $1.69 billion, a PE ratio of 29.25 and a beta of 1.11. The company has a 50-day moving average of $26.61 and a 200-day moving average of $24.90.
Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The business had revenue of $162.50 million during the quarter, compared to the consensus estimate of $161.41 million. Chesapeake Lodging Trust had a return on equity of 5.53% and a net margin of 10.77%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.75 earnings per share. Analysts expect that Chesapeake Lodging Trust will post $0.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.60 dividend on an annualized basis and a yield of 5.59%. Chesapeake Lodging Trust’s dividend payout ratio is currently 164.95%.
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Chesapeake Lodging Trust Company Profile
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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