Zacks Investment Research downgraded shares of Chesapeake Lodging Trust (NYSE:CHSP) from a hold rating to a sell rating in a report published on Thursday 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. “

Several other research analysts have also weighed in on CHSP. ValuEngine lowered shares of Chesapeake Lodging Trust from a buy rating to a hold rating in a research note on Friday, October 12th. Wells Fargo & Co lowered their price objective on shares of Chesapeake Lodging Trust from $32.00 to $28.00 and set a market perform rating on the stock in a research note on Friday, November 2nd. Finally, Robert W. Baird upgraded 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 research note on Tuesday, January 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Chesapeake Lodging Trust currently has an average rating of Hold and a consensus price target of $29.55.

Shares of CHSP stock opened at $26.88 on Thursday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.71. Chesapeake Lodging Trust has a 1 year low of $23.68 and a 1 year high of $33.81. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07.

Chesapeake Lodging Trust (NYSE:CHSP) last issued its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.32). Chesapeake Lodging Trust had a net margin of 18.64% and a return on equity of 7.47%. The business had revenue of $156.35 million during the quarter, compared to analyst estimates of $157.13 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. Research analysts expect that Chesapeake Lodging Trust will post 2.31 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, December 28th. This represents a $1.60 annualized dividend and a dividend yield of 5.95%. Chesapeake Lodging Trust’s dividend payout ratio is presently 73.73%.

In related news, Director Jeffrey D. Nuechterlein sold 1,000 shares of Chesapeake Lodging Trust stock in a transaction dated Thursday, December 13th. The shares were sold at an average price of $28.45, for a total transaction of $28,450.00. Following the completion of the sale, the director now owns 13,154 shares of the company’s stock, valued at approximately $374,231.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey D. Nuechterlein sold 3,000 shares of Chesapeake Lodging Trust stock in a transaction dated Wednesday, November 7th. The stock was sold at an average price of $29.74, for a total transaction of $89,220.00. Following the sale, the director now directly owns 14,154 shares of the company’s stock, valued at approximately $420,939.96. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in CHSP. Dynamic Technology Lab Private Ltd bought a new stake in shares of Chesapeake Lodging Trust during the 3rd quarter worth about $242,000. Riverhead Capital Management LLC boosted its holdings in shares of Chesapeake Lodging Trust by 37.3% during the 3rd quarter. Riverhead Capital Management LLC now owns 8,469 shares of the real estate investment trust’s stock worth $272,000 after buying an additional 2,300 shares during the period. Jennison Associates LLC bought a new stake in shares of Chesapeake Lodging Trust during the 3rd quarter worth about $397,000. WINTON GROUP Ltd bought a new stake in shares of Chesapeake Lodging Trust during the 2nd quarter worth about $400,000. Finally, First Quadrant L P CA bought a new stake in shares of Chesapeake Lodging Trust during the 3rd quarter worth about $404,000. 97.22% of the stock is owned by institutional investors and hedge funds.

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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