78,495 Shares in Chesapeake Lodging Trust (CHSP) Acquired by Systematic Financial Management LP
Systematic Financial Management LP acquired a new stake in Chesapeake Lodging Trust (NYSE:CHSP) during the second quarter, Holdings Channel reports. The institutional investor acquired 78,495 shares of the real estate investment trust’s stock, valued at approximately $1,825,000. Systematic Financial Management LP owned about 0.13% of Chesapeake Lodging Trust as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the company. Acrospire Investment Management LLC increased its stake in Chesapeake Lodging Trust by 96.0% in the second quarter. Acrospire Investment Management LLC now owns 4,900 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 2,400 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Chesapeake Lodging Trust by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 8,343 shares of the real estate investment trust’s stock valued at $194,000 after buying an additional 1,010 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Chesapeake Lodging Trust during the first quarter valued at $246,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in Chesapeake Lodging Trust by 7.7% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 9,829 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 700 shares during the last quarter. Finally, Aperio Group LLC bought a new stake in Chesapeake Lodging Trust during the first quarter valued at $309,000. 95.78% of the stock is owned by institutional investors and hedge funds.
Shares of Chesapeake Lodging Trust (NYSE:CHSP) traded down 1.20% during trading on Wednesday, hitting $23.06. The stock had a trading volume of 65,117 shares. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 19.30 and a beta of 1.14. The firm has a 50 day moving average of $24.93 and a 200 day moving average of $24.68. Chesapeake Lodging Trust has a 1-year low of $21.55 and a 1-year high of $29.91.
Chesapeake Lodging Trust (NYSE:CHSP) last announced its earnings results on Friday, July 29th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.03. Chesapeake Lodging Trust had a net margin of 12.96% and a return on equity of 6.68%. The business earned $169.40 million during the quarter, compared to analyst estimates of $172.38 million. During the same quarter last year, the business posted $0.68 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. Analysts expect that Chesapeake Lodging Trust will post $1.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.60 dividend on an annualized basis and a yield of 6.86%. Chesapeake Lodging Trust’s payout ratio is 133.33%.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 3rd. JMP Securities reissued a “hold” rating on shares of Chesapeake Lodging Trust in a report on Thursday, July 14th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $24.00 price target on shares of Chesapeake Lodging Trust in a report on Monday, June 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Chesapeake Lodging Trust presently has a consensus rating of “Hold” and an average price target of $26.17.
In related news, Director Thomas D. Eckert sold 21,000 shares of Chesapeake Lodging Trust stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $25.34, for a total value of $532,140.00. Following the completion of the sale, the director now directly owns 44,178 shares in the company, valued at $1,119,470.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.
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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