ValuEngine cut shares of Chesapeake Lodging Trust (NYSE:CHSP) from a buy rating to a hold rating in a research note issued to investors on Friday.
Other equities analysts have also issued reports about the company. Zacks Investment Research lowered Chesapeake Lodging Trust from a hold rating to a sell rating in a research report on Tuesday, July 31st. Robert W. Baird upped their target price on Chesapeake Lodging Trust from $30.00 to $31.00 and gave the company a neutral rating in a research report on Monday, July 30th. Finally, Royal Bank of Canada reaffirmed a hold rating and issued a $30.00 target price on shares of Chesapeake Lodging Trust in a research report on Monday, July 30th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. Chesapeake Lodging Trust has a consensus rating of Hold and a consensus target price of $28.72.
Shares of CHSP traded down $0.23 during trading on Friday, reaching $29.41. The company’s stock had a trading volume of 270,554 shares, compared to its average volume of 298,575. Chesapeake Lodging Trust has a twelve month low of $24.98 and a twelve month high of $33.81. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 2.74 and a beta of 0.88. 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 announced its earnings results on Friday, July 27th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.72. Chesapeake Lodging Trust had a return on equity of 7.39% and a net margin of 12.84%. The company had revenue of $163.30 million for the quarter, compared to analyst estimates of $165.62 million. During the same period in the prior year, the company posted $0.65 EPS. Chesapeake Lodging Trust’s quarterly revenue was up .5% on a year-over-year basis. On average, equities analysts expect that Chesapeake Lodging Trust will post 2.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.44%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is 73.73%.
Several hedge funds and other institutional investors have recently modified their holdings of CHSP. Morgan Stanley grew its stake in shares of Chesapeake Lodging Trust by 53.1% in the second quarter. Morgan Stanley now owns 2,371,712 shares of the real estate investment trust’s stock worth $75,041,000 after purchasing an additional 822,403 shares in the last quarter. BlackRock Inc. grew its stake in shares of Chesapeake Lodging Trust by 7.5% in the second quarter. BlackRock Inc. now owns 9,912,094 shares of the real estate investment trust’s stock worth $313,619,000 after purchasing an additional 688,834 shares in the last quarter. Heitman Real Estate Securities LLC grew its stake in shares of Chesapeake Lodging Trust by 166.3% in the first quarter. Heitman Real Estate Securities LLC now owns 1,085,946 shares of the real estate investment trust’s stock worth $33,344,000 after purchasing an additional 678,135 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in shares of Chesapeake Lodging Trust in the second quarter worth $10,538,000. Finally, Bank of Montreal Can grew its stake in shares of Chesapeake Lodging Trust by 516.5% in the second quarter. Bank of Montreal Can now owns 136,304 shares of the real estate investment trust’s stock worth $4,312,000 after purchasing an additional 114,194 shares in the last quarter. Institutional investors and hedge funds 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.
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