Bank of New York Mellon Corp Trims Stake in Chesapeake Lodging Trust (CHSP)
Bank of New York Mellon Corp cut its stake in shares of Chesapeake Lodging Trust (NYSE:CHSP) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,009,590 shares of the real estate investment trust’s stock after selling 16,041 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.67% of Chesapeake Lodging Trust worth $24,583,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of CHSP. Eii Capital Management Inc. increased its position in shares of Chesapeake Lodging Trust by 5.6% during the fourth quarter. Eii Capital Management Inc. now owns 7,390 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 395 shares during the period. Quantamental Technologies LLC purchased a new position in Chesapeake Lodging Trust during the fourth quarter valued at approximately $219,000. IFG Advisory LLC increased its holdings in Chesapeake Lodging Trust by 12.7% during the fourth quarter. IFG Advisory LLC now owns 9,148 shares of the real estate investment trust’s stock valued at $222,000 after buying an additional 1,034 shares during the period. Daiwa Securities Group Inc. increased its holdings in Chesapeake Lodging Trust by 6.8% during the fourth quarter. Daiwa Securities Group Inc. now owns 9,400 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 600 shares during the period. Finally, Stevens Capital Management LP purchased a new position in Chesapeake Lodging Trust during the fourth quarter valued at approximately $234,000. 99.47% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on CHSP shares. Zacks Investment Research raised shares of Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, January 31st. Wells Fargo & Co reissued a “hold” rating on shares of Chesapeake Lodging Trust in a report on Friday, January 25th. Deutsche Bank reissued a “hold” rating and set a $30.00 price objective on shares of Chesapeake Lodging Trust in a report on Monday, February 25th. Finally, Robert W. Baird raised shares of Chesapeake Lodging Trust from a “neutral” rating to an “outperform” rating and set a $31.00 price objective on the stock in a report on Tuesday, January 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $31.00.
Shares of CHSP stock opened at $28.38 on Thursday. The company has a market cap of $1.69 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 2.29 and a beta of 1.17. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.67 and a current ratio of 1.67. Chesapeake Lodging Trust has a 52-week low of $23.68 and a 52-week high of $33.81.
Chesapeake Lodging Trust (NYSE:CHSP) last issued its quarterly earnings data on Thursday, February 21st. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The company had revenue of $142.50 million for the quarter, compared to analyst estimates of $140.58 million. Chesapeake Lodging Trust had a net margin of 16.24% and a return on equity of 6.09%. Chesapeake Lodging Trust’s revenue was down .1% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share. Sell-side analysts anticipate that Chesapeake Lodging Trust will post 2.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a $0.40 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.60 annualized dividend and a yield of 5.64%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is 68.38%.
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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.
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