Zacks Investment Research Lowers Chesapeake Lodging Trust (CHSP) to Hold

Zacks Investment Research downgraded shares of Chesapeake Lodging Trust (NYSE:CHSP) from a buy rating to a hold rating in a research note issued to investors on Thursday.

According to Zacks, “Chesapeake Lodging Trust is a real estate investment trust. It is a self-advised hotel investment company focused on investments in upper upscale hotels in business, airport, convention markets, and select-service hotels in urban settings or locations in the United States. “

Other equities analysts have also issued research reports about the stock. TheStreet lowered shares of Chesapeake Lodging Trust from a b- rating to a c+ rating in a report on Tuesday, May 30th. BidaskClub raised shares of Chesapeake Lodging Trust from a hold rating to a buy rating in a research note on Friday, June 16th. Robert W. Baird reaffirmed an outperform rating and issued a $27.00 price target (up from $26.00) on shares of Chesapeake Lodging Trust in a research note on Friday, June 16th. 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 research report on Tuesday, July 18th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Chesapeake Lodging Trust has an average rating of Hold and a consensus price target of $25.25.

Chesapeake Lodging Trust (NYSE CHSP) opened at 24.55 on Thursday. The stock has a 50 day moving average price of $24.67 and a 200 day moving average price of $24.42. The firm has a market capitalization of $1.45 billion, a P/E ratio of 22.56 and a beta of 1.13. Chesapeake Lodging Trust has a one year low of $20.81 and a one year high of $27.08.

Chesapeake Lodging Trust (NYSE:CHSP) last issued its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. Chesapeake Lodging Trust had a net margin of 11.77% and a return on equity of 6.07%. The firm had revenue of $134.90 million for the quarter, compared to analyst estimates of $132.06 million. During the same quarter last year, the business posted $0.44 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts predict that Chesapeake Lodging Trust will post $0.79 EPS for the current fiscal year.

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The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.52%. The ex-dividend date was Wednesday, June 28th. Chesapeake Lodging Trust’s dividend payout ratio is presently 146.79%.

Several institutional investors have recently modified their holdings of CHSP. BlackRock Inc. raised its position in shares of Chesapeake Lodging Trust by 9,194.7% in the first quarter. BlackRock Inc. now owns 8,553,639 shares of the real estate investment trust’s stock worth $204,947,000 after buying an additional 8,461,612 shares during the last quarter. Morgan Stanley raised its position in Chesapeake Lodging Trust by 31.2% in the first quarter. Morgan Stanley now owns 3,579,698 shares of the real estate investment trust’s stock valued at $85,770,000 after buying an additional 851,341 shares in the last quarter. Norges Bank acquired a new position in Chesapeake Lodging Trust during the fourth quarter valued at approximately $17,146,000. Bank of New York Mellon Corp raised its position in Chesapeake Lodging Trust by 38.7% in the first quarter. Bank of New York Mellon Corp now owns 2,109,060 shares of the real estate investment trust’s stock valued at $50,534,000 after buying an additional 588,831 shares in the last quarter. Finally, State Street Corp raised its position in Chesapeake Lodging Trust by 7.2% in the first quarter. State Street Corp now owns 2,279,502 shares of the real estate investment trust’s stock valued at $54,617,000 after buying an additional 153,511 shares in the last quarter. 97.53% of the stock is currently owned by hedge funds and other 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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