Comerica Bank cut its position in Chesapeake Lodging Trust (NYSE:CHSP) by 25.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 47,528 shares of the real estate investment trust’s stock after selling 16,087 shares during the period. Comerica Bank’s holdings in Chesapeake Lodging Trust were worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new stake in shares of Chesapeake Lodging Trust in the second quarter valued at $140,000. Rhumbline Advisers raised its stake in shares of Chesapeake Lodging Trust by 3.3% in the second quarter. Rhumbline Advisers now owns 157,401 shares of the real estate investment trust’s stock valued at $4,980,000 after buying an additional 5,040 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Chesapeake Lodging Trust by 10.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 63,520 shares of the real estate investment trust’s stock valued at $2,010,000 after buying an additional 6,220 shares during the period. Acadian Asset Management LLC bought a new stake in shares of Chesapeake Lodging Trust in the second quarter valued at $210,000. Finally, People s United Financial Inc. bought a new stake in shares of Chesapeake Lodging Trust in the second quarter valued at $237,000.
In related news, Director Jeffrey D. Nuechterlein sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $29.74, for a total transaction of $89,220.00. Following the sale, the director now directly owns 14,154 shares in the company, valued at approximately $420,939.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.
NYSE:CHSP opened at $28.84 on Thursday. 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 52-week low of $24.98 and a 52-week high of $33.81. The firm has a market cap of $1.79 billion, a P/E ratio of 13.29, a P/E/G ratio of 2.58 and a beta of 0.95.
Chesapeake Lodging Trust (NYSE:CHSP) last released its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). Chesapeake Lodging Trust had a net margin of 18.64% and a return on equity of 7.47%. The company had revenue of $156.35 million for the quarter, compared to the consensus estimate of $157.13 million. During the same quarter in the previous year, the firm posted $0.64 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Research analysts forecast that Chesapeake Lodging Trust will post 2.3 earnings per share for the current year.
A number of research firms recently issued reports on CHSP. Zacks Investment Research upgraded Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a research note on Monday, September 17th. ValuEngine lowered Chesapeake Lodging Trust from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Finally, Wells Fargo & Co decreased their price objective on Chesapeake Lodging Trust from $32.00 to $28.00 and set a “market perform” rating on the stock in a research note on Friday, November 2nd. Seven equities research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $29.55.
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Chesapeake Lodging Trust Company Profile
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.
See Also: Debt-To-Equity Ratio
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