Zacks Investment Research upgraded shares of Chesapeake Lodging Trust (NYSE:CHSP) from a sell rating to a hold rating in a research note published on Monday.
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 equities analysts have also recently weighed in on CHSP. Robert W. Baird reiterated a buy rating and set a $27.00 price objective on shares of Chesapeake Lodging Trust in a report on Sunday, November 5th. JPMorgan Chase & Co. cut Chesapeake Lodging Trust from a neutral rating to an underweight rating in a report on Thursday, November 16th. Deutsche Bank lifted their price objective on Chesapeake Lodging Trust from $23.00 to $26.00 and gave the company a hold rating in a report on Friday, February 9th. Finally, Janney Montgomery Scott cut their price objective on Chesapeake Lodging Trust from $32.00 to $26.32 and set a fair value rating on the stock in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and an average price target of $26.72.
Chesapeake Lodging Trust (NYSE:CHSP) last released its quarterly earnings data on Thursday, February 15th. The real estate investment trust reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.02). Chesapeake Lodging Trust had a net margin of 12.34% and a return on equity of 6.67%. The business had revenue of $142.70 million for the quarter, compared to the consensus estimate of $143.85 million. During the same quarter last year, the firm earned $0.48 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. analysts forecast that Chesapeake Lodging Trust will post 2.38 earnings per share for the current fiscal year.
In related news, Director Jeffrey D. Nuechterlein sold 6,000 shares of Chesapeake Lodging Trust stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $28.68, for a total value of $172,080.00. Following the sale, the director now owns 19,485 shares of the company’s stock, valued at approximately $558,829.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.20% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in CHSP. AMP Capital Investors Ltd raised its position in Chesapeake Lodging Trust by 707.5% in the 4th quarter. AMP Capital Investors Ltd now owns 1,583,954 shares of the real estate investment trust’s stock valued at $42,909,000 after buying an additional 1,387,804 shares during the last quarter. Barings LLC acquired a new stake in Chesapeake Lodging Trust in the 4th quarter valued at approximately $16,182,000. BlackRock Inc. raised its position in Chesapeake Lodging Trust by 3.7% in the 4th quarter. BlackRock Inc. now owns 9,107,523 shares of the real estate investment trust’s stock valued at $246,723,000 after buying an additional 327,720 shares during the last quarter. Chicago Equity Partners LLC acquired a new stake in Chesapeake Lodging Trust in the 3rd quarter valued at approximately $3,589,000. Finally, Parametric Portfolio Associates LLC raised its position in Chesapeake Lodging Trust by 169.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 199,917 shares of the real estate investment trust’s stock valued at $4,892,000 after buying an additional 125,627 shares during the last quarter. 99.01% of the stock is currently owned by institutional investors and hedge funds.
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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