SunTrust Banks, Inc. reissued their hold rating on shares of Chesapeake Lodging Trust (NYSE:CHSP) in a research note released on Tuesday, October 17th. They currently have a $23.00 price target on the real estate investment trust’s stock.
CHSP has been the topic of several other reports. Zacks Investment Research raised shares of Chesapeake Lodging Trust from a hold rating to a strong-buy rating and set a $30.00 price target on the stock in a report on Tuesday, September 19th. TheStreet raised shares of Chesapeake Lodging Trust from a c+ rating to a b rating in a report on Friday, August 4th. Janney Montgomery Scott raised shares of Chesapeake Lodging Trust from a neutral rating to a buy rating and boosted their target price for the stock from $25.00 to $32.00 in a report on Wednesday, September 27th. KeyCorp reissued a hold rating on shares of Chesapeake Lodging Trust in a report on Sunday, September 24th. Finally, Deutsche Bank AG reissued a hold rating and set a $22.00 target price (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, three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $26.67.
Shares of Chesapeake Lodging Trust (NYSE:CHSP) traded up $0.08 during trading on Tuesday, hitting $28.17. 275,611 shares of the company traded hands, compared to its average volume of 441,861. The company has a market cap of $1,688.63, a price-to-earnings ratio of 12.89, a PEG ratio of 2.54 and a beta of 1.09. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.84. Chesapeake Lodging Trust has a 12 month low of $20.90 and a 12 month high of $28.77.
Chesapeake Lodging Trust (NYSE:CHSP) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). The company had revenue of $158.28 million for the quarter, compared to the consensus estimate of $159.18 million. Chesapeake Lodging Trust had a net margin of 9.71% and a return on equity of 5.11%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.71 earnings per share. equities research analysts predict that Chesapeake Lodging Trust will post 2.22 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 29th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date was Thursday, September 28th. Chesapeake Lodging Trust’s payout ratio is 197.53%.
Several large investors have recently bought and sold shares of CHSP. BlackRock Inc. boosted its stake in shares of Chesapeake Lodging Trust by 9,194.7% in the 1st quarter. BlackRock Inc. now owns 8,553,639 shares of the real estate investment trust’s stock valued at $204,947,000 after purchasing an additional 8,461,612 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in shares of Chesapeake Lodging Trust in the 2nd quarter valued at $18,597,000. Bank of New York Mellon Corp boosted its stake in shares of Chesapeake Lodging Trust by 29.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,723,171 shares of the real estate investment trust’s stock valued at $66,637,000 after purchasing an additional 614,111 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Chesapeake Lodging Trust by 27.0% in the 2nd quarter. Northern Trust Corp now owns 2,239,578 shares of the real estate investment trust’s stock valued at $54,803,000 after purchasing an additional 476,562 shares during the last quarter. Finally, M&T Bank Corp bought a new stake in shares of Chesapeake Lodging Trust in the 2nd quarter valued at $8,301,000. 98.29% of the stock is currently owned by institutional investors.
About Chesapeake Lodging Trust
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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