Zacks Investment Research cut shares of Chesapeake Lodging Trust (NYSE:CHSP) from a hold rating to a sell rating in a research report sent to investors on Tuesday morning.

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. “

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada restated a hold rating and issued a $30.00 price objective on shares of Chesapeake Lodging Trust in a research note on Monday, July 30th. Robert W. Baird increased their price objective on shares of Chesapeake Lodging Trust from $30.00 to $31.00 and gave the company a neutral rating in a research note on Monday, July 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $28.72.

NYSE:CHSP opened at $32.79 on Tuesday. The firm has a market cap of $1.97 billion, a P/E ratio of 14.39, a P/E/G ratio of 2.79 and a beta of 0.90. Chesapeake Lodging Trust has a one year low of $24.98 and a one year high of $33.81. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.80.

Chesapeake Lodging Trust (NYSE:CHSP) last released its earnings results on Friday, July 27th. The real estate investment trust reported $0.72 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.72. The firm had revenue of $163.30 million during the quarter, compared to analysts’ expectations of $165.62 million. Chesapeake Lodging Trust had a net margin of 12.84% and a return on equity of 7.39%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 EPS. analysts forecast that Chesapeake Lodging Trust will post 2.35 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Thursday, September 27th. Chesapeake Lodging Trust’s dividend payout ratio is 73.73%.

Several hedge funds have recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Chesapeake Lodging Trust during the 2nd quarter worth about $140,000. Acadian Asset Management LLC acquired a new stake in shares of Chesapeake Lodging Trust during the 2nd quarter worth about $210,000. WealthTrust Axiom LLC acquired a new stake in shares of Chesapeake Lodging Trust during the 2nd quarter worth about $211,000. Meeder Asset Management Inc. increased its position in shares of Chesapeake Lodging Trust by 368.7% during the 2nd quarter. Meeder Asset Management Inc. now owns 7,077 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 5,567 shares in the last quarter. Finally, People s United Financial Inc. acquired a new stake in shares of Chesapeake Lodging Trust during the 2nd quarter worth about $237,000. Institutional investors own 97.64% of the company’s stock.

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.

Further Reading: Earnings Per Share (EPS)

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Analyst Recommendations for Chesapeake Lodging Trust (NYSE:CHSP)

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