Chesapeake Lodging Trust (CHSP) Lifted to “Hold” at Zacks Investment Research
According to Zacks, “Chesapeake Lodging Trust is a real estate investment trust. It is a self-advised hotel investment company focused on investments in upper upscale hotels in business, airport, convention markets, and select-service hotels in urban settings or locations in the United States. “
Other research analysts have also issued research reports about the company. JMP Securities reaffirmed a hold rating on shares of Chesapeake Lodging Trust in a research report on Thursday, July 14th. Deutsche Bank AG reaffirmed a hold rating and set a $24.00 price objective on shares of Chesapeake Lodging Trust in a research report on Monday, June 27th. Finally, Janney Montgomery Scott assumed coverage on Chesapeake Lodging Trust in a research note on Monday, May 23rd. They set a neutral rating and a $23.00 target price on the stock. One equities 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 stock. Chesapeake Lodging Trust has a consensus rating of Hold and an average price target of $26.17.
Shares of Chesapeake Lodging Trust (NYSE:CHSP) opened at 23.67 on Tuesday. Chesapeake Lodging Trust has a 1-year low of $21.55 and a 1-year high of $30.00. The company’s 50 day moving average price is $25.13 and its 200-day moving average price is $24.77. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 19.81 and a beta of 1.14.
Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings data 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 company had revenue of $169.40 million for the quarter, compared to the consensus estimate of $172.38 million. During the same period last year, the business earned $0.68 EPS. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. On average, equities analysts forecast that Chesapeake Lodging Trust will post $1.31 earnings per share for the current year.
In other news, Director Thomas D. Eckert sold 21,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was 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 approximately $1,119,470.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.20% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Chesapeake Lodging Trust during the fourth quarter valued at $13,893,000. Spirit of America Management Corp NY increased its position in Chesapeake Lodging Trust by 23.2% in the first quarter. Spirit of America Management Corp NY now owns 40,900 shares of the real estate investment trust’s stock valued at $1,082,000 after buying an additional 7,700 shares during the period. Alpha Windward LLC bought a new position in Chesapeake Lodging Trust during the first quarter valued at $410,000. Aperio Group LLC bought a new position in Chesapeake Lodging Trust during the first quarter valued at $309,000. Finally, Virginia Retirement System bought a new position in Chesapeake Lodging Trust during the first quarter valued at $1,050,000. Institutional investors own 95.78% of the company’s stock.
About Chesapeake Lodging Trust
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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