Wells Fargo & Company MN lifted its position in shares of Chesapeake Lodging Trust (NYSE:CHSP) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 796,327 shares of the real estate investment trust’s stock after acquiring an additional 57,271 shares during the quarter. Wells Fargo & Company MN owned approximately 1.32% of Chesapeake Lodging Trust worth $21,573,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Invictus RG bought a new stake in Chesapeake Lodging Trust in the third quarter valued at about $139,000. FNY Managed Accounts LLC bought a new stake in Chesapeake Lodging Trust in the third quarter valued at about $161,000. Acadian Asset Management LLC bought a new stake in Chesapeake Lodging Trust in the fourth quarter valued at about $200,000. Amalgamated Bank bought a new stake in Chesapeake Lodging Trust in the third quarter valued at about $216,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Chesapeake Lodging Trust in the third quarter valued at about $223,000. Institutional investors own 95.90% of the company’s stock.
Chesapeake Lodging Trust (CHSP) opened at $27.29 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $1,647.80, a P/E ratio of 12.52, a P/E/G ratio of 2.29 and a beta of 1.09. Chesapeake Lodging Trust has a 52-week low of $22.55 and a 52-week high of $29.36.
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 (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). The business had revenue of $142.70 million during the quarter, compared to the consensus estimate of $143.85 million. Chesapeake Lodging Trust had a net margin of 12.34% and a return on equity of 6.67%. Chesapeake Lodging Trust’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.48 EPS. equities analysts predict that Chesapeake Lodging Trust will post 2.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.60 annualized dividend and a yield of 5.86%. Chesapeake Lodging Trust’s dividend payout ratio is 144.14%.
CHSP has been the subject of several recent research reports. Robert W. Baird set a $30.00 price objective on Chesapeake Lodging Trust and gave the stock a “buy” rating in a research report on Friday, December 1st. Zacks Investment Research raised Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. Deutsche Bank upped their price objective on Chesapeake Lodging Trust from $23.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Janney Montgomery Scott reduced their price objective on Chesapeake Lodging Trust from $32.00 to $26.32 and set a “fair value” rating for the company in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.72.
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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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