Chesapeake Lodging Trust (NYSE:CHSP) had its price objective reduced by Wells Fargo & Co from $32.00 to $28.00 in a report issued on Friday morning. They currently have a market perform rating on the real estate investment trust’s stock.
A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada reissued a hold rating and set a $30.00 price objective on shares of Chesapeake Lodging Trust in a report on Monday, July 30th. ValuEngine lowered shares of Chesapeake Lodging Trust from a buy rating to a hold rating in a report on Friday, October 12th. Robert W. Baird boosted their price objective on shares of Chesapeake Lodging Trust from $30.00 to $31.00 and gave the company a neutral rating in a report on Monday, July 30th. Finally, Zacks Investment Research raised shares of Chesapeake Lodging Trust from a sell rating to a hold rating in a report on Monday, September 17th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $29.55.
NYSE CHSP opened at $28.35 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.75 and a current ratio of 1.75. Chesapeake Lodging Trust has a 12-month low of $24.98 and a 12-month high of $33.81. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 2.46 and a beta of 0.95.
Chesapeake Lodging Trust (NYSE:CHSP) last released its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.32). Chesapeake Lodging Trust had a return on equity of 7.47% and a net margin of 18.64%. The firm had revenue of $156.35 million during the quarter, compared to analysts’ expectations of $157.13 million. During the same period in the prior year, the firm posted $0.64 earnings per share. Chesapeake Lodging Trust’s revenue for the quarter was down 1.2% compared to the same quarter last year. Sell-side analysts anticipate that Chesapeake Lodging Trust will post 2.31 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date was Thursday, September 27th. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is presently 73.73%.
Several institutional investors and hedge funds have recently made changes to their positions in CHSP. Morgan Stanley grew its holdings in shares of Chesapeake Lodging Trust by 53.1% during the second quarter. Morgan Stanley now owns 2,371,712 shares of the real estate investment trust’s stock valued at $75,041,000 after buying an additional 822,403 shares during the last quarter. BlackRock Inc. boosted its holdings in Chesapeake Lodging Trust by 7.5% in the second quarter. BlackRock Inc. now owns 9,912,094 shares of the real estate investment trust’s stock valued at $313,619,000 after purchasing an additional 688,834 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Chesapeake Lodging Trust by 205.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,014,720 shares of the real estate investment trust’s stock valued at $32,457,000 after purchasing an additional 682,205 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Chesapeake Lodging Trust in the third quarter valued at $8,296,000. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Chesapeake Lodging Trust by 25.8% in the third quarter. Public Employees Retirement Association of Colorado now owns 599,600 shares of the real estate investment trust’s stock valued at $19,229,000 after purchasing an additional 122,900 shares during the last quarter. 98.86% of the stock is currently owned by hedge funds and other institutional investors.
About Chesapeake Lodging Trust
Chesapeake Lodging Trust is a self-advised lodging real estate investment trust REIT focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States. The Trust owns 20 hotels with an aggregate of 6,279 rooms in eight states and the District of Columbia.
See Also: Diversification in Investing
Receive News & Ratings for Chesapeake Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.