Chesapeake Lodging Trust (CHSP) Upgraded by Zacks Investment Research to “Strong-Buy”

Chesapeake Lodging Trust (NYSE:CHSP) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research note issued on Tuesday. The firm currently has a $30.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 18.20% from the stock’s current price.

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. “

CHSP has been the subject of a number of other reports. Robert W. Baird set a $27.00 price objective on shares of Chesapeake Lodging Trust and gave the stock a “buy” rating in a report on Friday, August 25th. BidaskClub upgraded shares of Chesapeake Lodging Trust from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Deutsche Bank AG reiterated a “hold” rating and issued a $22.00 price objective (up from $21.00) on shares of Chesapeake Lodging Trust in a report on Tuesday, July 18th. TheStreet upgraded shares of Chesapeake Lodging Trust from a “c+” rating to a “b” rating in a report on Friday, August 4th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $25.00 price objective on shares of Chesapeake Lodging Trust in a report on Friday, August 4th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Chesapeake Lodging Trust currently has an average rating of “Buy” and an average price target of $25.60.

Shares of Chesapeake Lodging Trust (NYSE:CHSP) traded down 1.40% on Tuesday, hitting $25.38. The company’s stock had a trading volume of 385,637 shares. The stock’s 50 day moving average price is $25.24 and its 200 day moving average price is $24.33. Chesapeake Lodging Trust has a 52 week low of $20.81 and a 52 week high of $27.08. The stock has a market capitalization of $1.50 billion, a P/E ratio of 25.95 and a beta of 1.11.

Chesapeake Lodging Trust (NYSE:CHSP) last issued its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The firm had revenue of $162.50 million during the quarter, compared to analysts’ expectations of $161.41 million. Chesapeake Lodging Trust had a net margin of 10.77% and a return on equity of 5.53%. Chesapeake Lodging Trust’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. On average, analysts forecast that Chesapeake Lodging Trust will post $0.82 earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Chesapeake Lodging Trust by 12.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,444 shares of the real estate investment trust’s stock valued at $106,000 after acquiring an additional 477 shares during the period. Daiwa Securities Group Inc. boosted its holdings in Chesapeake Lodging Trust by 46.9% during the first quarter. Daiwa Securities Group Inc. now owns 4,700 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 1,500 shares during the period. Ameritas Investment Partners Inc. bought a new stake in Chesapeake Lodging Trust during the first quarter valued at about $123,000. GAM Holding AG boosted its holdings in Chesapeake Lodging Trust by 8.8% during the second quarter. GAM Holding AG now owns 5,307 shares of the real estate investment trust’s stock valued at $130,000 after acquiring an additional 429 shares during the period. Finally, Flinton Capital Management LLC boosted its holdings in Chesapeake Lodging Trust by 78.4% during the second quarter. Flinton Capital Management LLC now owns 5,796 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 2,548 shares during the period. Institutional investors own 98.54% of the company’s stock.

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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