Chesapeake Lodging Trust (CHSP) Cut to “Hold” at Zacks Investment Research

Chesapeake Lodging Trust (NYSE:CHSP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, July 20th.

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 also recently issued reports on the company. BidaskClub upgraded Chesapeake Lodging Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. TheStreet cut Chesapeake Lodging Trust from a “b-” rating to a “c+” rating in a report on Tuesday, May 30th. Robert W. Baird reaffirmed an “outperform” rating and issued a $27.00 target price (up from $26.00) on shares of Chesapeake Lodging Trust in a report on Friday, June 16th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $22.00 price target (up from $21.00) on shares of Chesapeake Lodging Trust in a report on Tuesday, July 18th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.20.

Chesapeake Lodging Trust (NYSE CHSP) traded up 1.36% during trading on Thursday, hitting $25.31. The stock had a trading volume of 172,764 shares. Chesapeake Lodging Trust has a 52 week low of $20.81 and a 52 week high of $27.08. The company has a 50-day moving average of $24.91 and a 200 day moving average of $24.32. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 25.88 and a beta of 1.13.

Chesapeake Lodging Trust (NYSE:CHSP) last released its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The firm had revenue of $162.50 million for the quarter, compared to the consensus estimate of $161.41 million. Chesapeake Lodging Trust had a return on equity of 5.53% and a net margin of 10.77%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the business posted $0.75 EPS. On average, equities research analysts anticipate that Chesapeake Lodging Trust will post $0.82 EPS for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in Chesapeake Lodging Trust by 51.7% in the second quarter. Public Employees Retirement System of Ohio now owns 105,644 shares of the real estate investment trust’s stock valued at $2,585,000 after buying an additional 36,022 shares in the last quarter. Piedmont Investment Advisors LLC bought a new position in Chesapeake Lodging Trust during the second quarter valued at approximately $318,000. State Street Corp raised its position in Chesapeake Lodging Trust by 2.0% in the second quarter. State Street Corp now owns 2,325,547 shares of the real estate investment trust’s stock valued at $56,906,000 after buying an additional 46,045 shares in the last quarter. Flinton Capital Management LLC raised its position in Chesapeake Lodging Trust by 78.4% in the second quarter. Flinton Capital Management LLC now owns 5,796 shares of the real estate investment trust’s stock valued at $142,000 after buying an additional 2,548 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in Chesapeake Lodging Trust by 3.2% in the second quarter. Voya Investment Management LLC now owns 67,454 shares of the real estate investment trust’s stock valued at $1,651,000 after buying an additional 2,110 shares in the last quarter. Institutional investors own 99.16% of the company’s stock.

Chesapeake Lodging Trust Company Profile

Chesapeake Lodging Trust is a real estate investment trust. The Company is focused on investments primarily in upper-upscale hotels in various business and convention markets and, on a selective basis, select-service hotels in urban settings or other locations in the United States. The Company operates through the hotel ownership segment.

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