Barings LLC Sells 87,010 Shares of Chesapeake Lodging Trust (NYSE:CHSP)

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Barings LLC lowered its stake in Chesapeake Lodging Trust (NYSE:CHSP) by 10.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 786,734 shares of the real estate investment trust’s stock after selling 87,010 shares during the quarter. Barings LLC owned about 1.30% of Chesapeake Lodging Trust worth $25,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in Chesapeake Lodging Trust during the 2nd quarter valued at approximately $140,000. Acadian Asset Management LLC purchased a new position in shares of Chesapeake Lodging Trust in the 2nd quarter worth approximately $210,000. WealthTrust Axiom LLC purchased a new position in shares of Chesapeake Lodging Trust in the 2nd quarter worth approximately $211,000. Meeder Asset Management Inc. boosted its holdings in shares of Chesapeake Lodging Trust by 368.7% in 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 during the period. Finally, People s United Financial Inc. purchased a new position in shares of Chesapeake Lodging Trust in the 2nd quarter worth approximately $237,000. 99.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CHSP stock opened at $29.56 on Friday. Chesapeake Lodging Trust has a 52-week low of $24.98 and a 52-week high of $33.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market cap of $1.79 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 2.57 and a beta of 0.95.

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 Zacks’ consensus estimate of $0.66 by ($0.32). Chesapeake Lodging Trust had a return on equity of 7.47% and a net margin of 18.64%. The business had revenue of $156.35 million for the quarter, compared to the consensus estimate of $157.13 million. During the same period in the prior year, the business posted $0.64 earnings per share. Chesapeake Lodging Trust’s revenue was down 1.2% on a year-over-year basis. Research analysts expect that Chesapeake Lodging Trust will post 2.3 EPS for the current year.

A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a report on Monday, September 17th. Royal Bank of Canada reiterated a “hold” rating and issued a $30.00 target price on shares of Chesapeake Lodging Trust in a report on Monday, July 30th. Robert W. Baird lifted their target price on Chesapeake Lodging Trust from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, July 30th. ValuEngine cut Chesapeake Lodging Trust from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Finally, Wells Fargo & Co dropped their target price on Chesapeake Lodging Trust from $32.00 to $28.00 and set a “market perform” rating for the company in a report on Friday, November 2nd. Seven research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and a consensus price target of $29.55.

In related news, Director Jeffrey D. Nuechterlein sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $29.74, for a total transaction of $89,220.00. Following the completion of the sale, the director now directly owns 14,154 shares of the company’s stock, valued at approximately $420,939.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by company insiders.

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Chesapeake Lodging Trust Profile

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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Institutional Ownership by Quarter for Chesapeake Lodging Trust (NYSE:CHSP)

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