BlackRock Inc. boosted its stake in shares of Chesapeake Lodging Trust (NYSE:CHSP) by 7.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,912,094 shares of the real estate investment trust’s stock after purchasing an additional 688,834 shares during the quarter. BlackRock Inc. owned about 16.41% of Chesapeake Lodging Trust worth $313,619,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. raised its stake in Chesapeake Lodging Trust by 66.3% during the second quarter. American Century Companies Inc. now owns 251,151 shares of the real estate investment trust’s stock worth $7,946,000 after acquiring an additional 100,148 shares in the last quarter. People s United Financial Inc. acquired a new position in Chesapeake Lodging Trust during the second quarter worth $237,000. Schwab Charles Investment Management Inc. raised its stake in Chesapeake Lodging Trust by 5.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 857,504 shares of the real estate investment trust’s stock worth $27,132,000 after acquiring an additional 44,365 shares in the last quarter. SG Americas Securities LLC raised its stake in Chesapeake Lodging Trust by 609.8% during the second quarter. SG Americas Securities LLC now owns 58,530 shares of the real estate investment trust’s stock worth $1,852,000 after acquiring an additional 50,284 shares in the last quarter. Finally, Bowling Portfolio Management LLC raised its stake in Chesapeake Lodging Trust by 117.1% during the second quarter. Bowling Portfolio Management LLC now owns 73,127 shares of the real estate investment trust’s stock worth $2,314,000 after acquiring an additional 39,444 shares in the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.
Shares of CHSP stock opened at $33.23 on Friday. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.98 billion, a PE ratio of 15.31, a price-to-earnings-growth ratio of 2.79 and a beta of 0.90. Chesapeake Lodging Trust has a 52 week low of $24.98 and a 52 week high of $33.46.
Chesapeake Lodging Trust (NYSE:CHSP) last announced its earnings results on Friday, July 27th. The real estate investment trust reported $0.72 EPS for the quarter, hitting the consensus estimate of $0.72. The company had revenue of $163.30 million for the quarter, compared to analysts’ expectations of $165.62 million. Chesapeake Lodging Trust had a return on equity of 7.39% and a net margin of 12.84%. The business’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. equities analysts predict that Chesapeake Lodging Trust will post 2.35 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend is Thursday, September 27th. Chesapeake Lodging Trust’s payout ratio is presently 73.73%.
Several research analysts have issued reports on CHSP shares. Zacks Investment Research lowered Chesapeake Lodging Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Royal Bank of Canada restated a “hold” rating and set a $30.00 target price on shares of Chesapeake Lodging Trust in a report on Monday, July 30th. Finally, Robert W. Baird increased their target price on Chesapeake Lodging Trust from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, July 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a strong buy rating to the stock. Chesapeake Lodging Trust currently has a consensus rating of “Hold” and an average target price of $28.72.
About Chesapeake Lodging Trust
Chesapeake Lodging Trust is a self-advised lodging real estate investment trust REIT focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. The Trust owns 20 hotels with an aggregate of 6,279 rooms in eight states and the District of Columbia.
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