Brokerages expect Chesapeake Lodging Trust (NYSE:CHSP) to post $143.61 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Chesapeake Lodging Trust’s earnings. The highest sales estimate is $147.53 million and the lowest is $140.80 million. Chesapeake Lodging Trust reported sales of $145.13 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 1%. The firm is scheduled to announce its next earnings results after the market closes on Thursday, February 15th.
On average, analysts expect that Chesapeake Lodging Trust will report full year sales of $143.61 million for the current year, with estimates ranging from $596.50 million to $603.14 million. For the next year, analysts expect that the firm will report sales of $607.59 million per share, with estimates ranging from $600.35 million to $613.73 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Chesapeake Lodging Trust.
Several equities analysts recently weighed in on the stock. Robert W. Baird set a $30.00 price objective on shares of Chesapeake Lodging Trust and gave the company a “buy” rating in a report on Friday, December 1st. JPMorgan Chase & Co. lowered shares of Chesapeake Lodging Trust from a “neutral” rating to an “underweight” rating in a report on Thursday, November 16th. Zacks Investment Research lowered shares of Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Finally, Deutsche Bank increased their price objective on shares of Chesapeake Lodging Trust from $23.00 to $26.00 and gave the company a “hold” rating in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Chesapeake Lodging Trust has an average rating of “Hold” and an average target price of $27.83.
In other Chesapeake Lodging Trust news, Director Jeffrey D. Nuechterlein sold 6,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $28.68, for a total value of $172,080.00. Following the sale, the director now directly owns 19,485 shares in the company, valued at $558,829.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.20% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the business. Invictus RG acquired a new stake in Chesapeake Lodging Trust in the third quarter worth $139,000. FNY Managed Accounts LLC acquired a new stake in Chesapeake Lodging Trust in the third quarter worth $161,000. Acadian Asset Management LLC acquired a new stake in Chesapeake Lodging Trust in the fourth quarter worth $200,000. Amalgamated Bank acquired a new stake in Chesapeake Lodging Trust in the third quarter worth $216,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Chesapeake Lodging Trust in the third quarter worth $223,000. Institutional investors own 98.58% of the company’s stock.
ILLEGAL ACTIVITY WARNING: “$143.61 Million in Sales Expected for Chesapeake Lodging Trust (CHSP) This Quarter” was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/02/15/143-61-million-in-sales-expected-for-chesapeake-lodging-trust-chsp-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Chesapeake Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.