LSV Asset Management Has $162,000 Stake in Chesapeake Lodging Trust (CHSP)
LSV Asset Management continued to hold its position in Chesapeake Lodging Trust (NYSE:CHSP) during the second quarter, Holdings Channel reports. The firm owned 7,000 shares of the real estate investment trust’s stock at the end of the second quarter. LSV Asset Management’s holdings in Chesapeake Lodging Trust were worth $162,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Chesapeake Lodging Trust during the fourth quarter valued at about $13,893,000. Alpha Windward LLC purchased a new position in shares of Chesapeake Lodging Trust during the first quarter valued at $410,000. Aperio Group LLC purchased a new position in shares of Chesapeake Lodging Trust during the first quarter valued at $309,000. Virginia Retirement System purchased a new position in shares of Chesapeake Lodging Trust during the first quarter valued at $1,050,000. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of Chesapeake Lodging Trust by 2.4% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 18,000 shares of the real estate investment trust’s stock valued at $476,000 after buying an additional 425 shares during the last quarter. 95.78% of the stock is owned by institutional investors and hedge funds.
Chesapeake Lodging Trust (NYSE:CHSP) traded down 1.23% on Tuesday, hitting $23.34. 598,672 shares of the stock were exchanged. The company has a market cap of $1.37 billion, a PE ratio of 19.53 and a beta of 1.14. Chesapeake Lodging Trust has a 52 week low of $21.55 and a 52 week high of $29.91. The company’s 50-day moving average is $24.98 and its 200-day moving average is $24.70.
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 Thomson Reuters’ 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 firm had revenue of $169.40 million for the quarter, compared to the consensus estimate of $172.38 million. During the same period in the prior year, the business earned $0.68 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts predict that Chesapeake Lodging Trust will post $1.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.60 annualized dividend and a yield of 6.86%. Chesapeake Lodging Trust’s dividend payout ratio is currently 133.33%.
CHSP has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a research note on Monday, August 29th. JMP Securities reissued a “hold” rating on shares of Chesapeake Lodging Trust in a research note on Thursday, July 14th. Deutsche Bank AG reissued a “hold” rating and issued a $24.00 target price on shares of Chesapeake Lodging Trust in a research note on Monday, June 27th. Finally, Janney Montgomery Scott initiated coverage on shares of Chesapeake Lodging Trust in a research note on Monday, May 23rd. They issued a “neutral” rating and a $23.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $26.17.
In related news, Director Thomas D. Eckert sold 21,000 shares of the 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 completion of the transaction, the director now owns 44,178 shares in the company, valued at approximately $1,119,470.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is owned by corporate insiders.
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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