Shares of Chesapeake Lodging Trust (NYSE:CHSP) have been assigned an average recommendation of “Hold” from the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $25.08.
CHSP has been the subject of a number of recent analyst reports. Zacks Investment Research cut Chesapeake Lodging Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 1st. Robert W. Baird cut Chesapeake Lodging Trust from an “outperform” rating to a “neutral” rating in a research report on Monday, May 14th.
Chesapeake Lodging Trust traded down $0.92, reaching $31.12, during trading hours on Friday, MarketBeat Ratings reports. 359,127 shares of the company were exchanged, compared to its average volume of 312,164. The stock has a market capitalization of $1.94 billion, a P/E ratio of 14.34, a PEG ratio of 2.69 and a beta of 0.98. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.80. Chesapeake Lodging Trust has a 12 month low of $24.08 and a 12 month high of $32.95.
Chesapeake Lodging Trust (NYSE:CHSP) last announced its earnings results on Friday, July 27th. The real estate investment trust reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. The firm had revenue of $163.30 million during the quarter, compared to analysts’ expectations of $165.62 million. Chesapeake Lodging Trust had a return on equity of 6.97% and a net margin of 12.49%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. sell-side analysts anticipate that Chesapeake Lodging Trust will post 2.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 13th. Stockholders of record on Friday, June 29th were issued a dividend of $0.40 per share. The ex-dividend date was Thursday, June 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.14%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is presently 73.73%.
In other news, COO D. Rick Adams sold 75,612 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $29.79, for a total transaction of $2,252,481.48. Following the completion of the transaction, the chief operating officer now directly owns 157,500 shares in the company, valued at $4,691,925. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James L. Francis sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $30.44, for a total value of $3,044,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,612 shares of company stock valued at $6,821,981. Corporate insiders own 2.60% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. raised its stake in shares of Chesapeake Lodging Trust by 368.7% in the second quarter. Meeder Asset Management Inc. now owns 7,077 shares of the real estate investment trust’s stock valued at $224,000 after purchasing an additional 5,567 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Chesapeake Lodging Trust in the second quarter valued at $210,000. James Investment Research Inc. acquired a new position in shares of Chesapeake Lodging Trust in the second quarter valued at $2,037,000. Bank of Montreal Can raised its stake in shares of Chesapeake Lodging Trust by 516.5% in the second quarter. Bank of Montreal Can now owns 136,304 shares of the real estate investment trust’s stock valued at $4,312,000 after purchasing an additional 114,194 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC raised its stake in shares of Chesapeake Lodging Trust by 39.4% in the second quarter. Campbell & CO Investment Adviser LLC now owns 15,215 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 4,300 shares in the last quarter. Institutional investors own 96.40% of the company’s stock.
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.
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