Chesapeake Lodging Trust (CHSP) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Chesapeake Lodging Trust (NYSE:CHSP) from a sell rating to a hold rating in a research note released on Friday 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. “

Separately, Deutsche Bank AG dropped their price target on Chesapeake Lodging Trust from $23.00 to $22.00 and set a hold rating on the stock in a research note on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Chesapeake Lodging Trust currently has an average rating of Hold and a consensus target price of $23.75.

Analyst Recommendations for Chesapeake Lodging Trust (NYSE:CHSP)

Chesapeake Lodging Trust (NYSE:CHSP) traded up 0.55% during mid-day trading on Friday, reaching $25.40. 149,866 shares of the company’s stock traded hands. Chesapeake Lodging Trust has a 1-year low of $20.81 and a 1-year high of $27.18. The firm has a 50 day moving average of $25.29 and a 200 day moving average of $24.20. The firm has a market cap of $1.49 billion, a PE ratio of 21.60 and a beta of 1.08.

Chesapeake Lodging Trust (NYSE:CHSP) last announced its earnings results on Tuesday, November 1st. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.03. Chesapeake Lodging Trust had a return on equity of 6.60% and a net margin of 12.77%. The business had revenue of $164.50 million for the quarter, compared to analysts’ expectations of $167.65 million. During the same quarter last year, the firm earned $0.73 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Analysts forecast that Chesapeake Lodging Trust will post $1.14 EPS for the current year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Friday, December 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.60 annualized dividend and a dividend yield of 6.33%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is presently 135.59%.

In other Chesapeake Lodging Trust news, CEO James L. Francis purchased 2,500 shares of Chesapeake Lodging Trust stock in a transaction that occurred on Monday, November 28th. The stock was bought at an average price of $23.26 per share, with a total value of $58,150.00. Following the acquisition, the chief executive officer now owns 498,072 shares of the company’s stock, valued at approximately $11,585,154.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Graham J. Wootten purchased 1,500 shares of Chesapeake Lodging Trust stock in a transaction that occurred on Thursday, November 3rd. The stock was acquired at an average cost of $21.00 per share, with a total value of $31,500.00. Following the acquisition, the chief accounting officer now directly owns 90,669 shares in the company, valued at approximately $1,904,049. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in CHSP. Price T Rowe Associates Inc. MD boosted its position in Chesapeake Lodging Trust by 1.6% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,363,180 shares of the real estate investment trust’s stock worth $31,217,000 after buying an additional 21,730 shares during the last quarter. Adelante Capital Management LLC boosted its position in Chesapeake Lodging Trust by 8.5% in the third quarter. Adelante Capital Management LLC now owns 1,949,333 shares of the real estate investment trust’s stock worth $44,640,000 after buying an additional 152,623 shares during the last quarter. Pioneer Investment Management Inc. boosted its position in Chesapeake Lodging Trust by 31.6% in the third quarter. Pioneer Investment Management Inc. now owns 556,190 shares of the real estate investment trust’s stock worth $12,736,000 after buying an additional 133,590 shares during the last quarter. Dean Investment Associates LLC boosted its position in Chesapeake Lodging Trust by 2.2% in the third quarter. Dean Investment Associates LLC now owns 124,835 shares of the real estate investment trust’s stock worth $2,859,000 after buying an additional 2,725 shares during the last quarter. Finally, Kemper Corp Master Retirement Trust boosted its position in Chesapeake Lodging Trust by 1.6% in the third quarter. Kemper Corp Master Retirement Trust now owns 8,075 shares of the real estate investment trust’s stock worth $185,000 after buying an additional 125 shares during the last quarter. 95.74% of the stock is owned by institutional investors.

Chesapeake Lodging Trust Company Profile

Chesapeake Lodging Trust (the Trust) is a self-advised real estate investment trust (REIT). The Trust is focused on investments primarily in upper-upscale hotels in business and convention markets and, on service hotels in urban settings or locations in the United States. The Trust owns over 20 hotels with over 6,700 rooms in approximately nine states and the District of Columbia.

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