Chesapeake Lodging Trust (NYSE:CHSP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Monday.
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. “
A number of other equities analysts have also recently weighed in on CHSP. Robert W. Baird upped their price target on Chesapeake Lodging Trust from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Monday, July 30th. ValuEngine cut Chesapeake Lodging Trust from a “buy” rating to a “hold” rating in a report on Friday, October 12th. Wells Fargo & Co reduced their price target on Chesapeake Lodging Trust from $32.00 to $28.00 and set a “market perform” rating for the company in a report on Friday, November 2nd. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $30.00 price target on shares of Chesapeake Lodging Trust in a report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $29.55.
NYSE CHSP opened at $29.40 on Monday. The stock has a market capitalization of $1.71 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 2.46 and a beta of 0.95. Chesapeake Lodging Trust has a twelve month low of $24.98 and a twelve month high of $33.81. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.71.
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 for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The business had revenue of $156.35 million during the quarter, compared to analyst estimates of $157.13 million. Chesapeake Lodging Trust had a return on equity of 7.47% and a net margin of 18.64%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 EPS. As a group, equities research analysts expect that Chesapeake Lodging Trust will post 2.31 EPS for the current year.
A number of large investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in Chesapeake Lodging Trust by 7.5% during the 2nd quarter. BlackRock Inc. now owns 9,912,094 shares of the real estate investment trust’s stock worth $313,619,000 after buying an additional 688,834 shares in the last quarter. Northern Trust Corp increased its stake in Chesapeake Lodging Trust by 2.4% during the 2nd quarter. Northern Trust Corp now owns 2,540,438 shares of the real estate investment trust’s stock worth $80,379,000 after buying an additional 60,557 shares in the last quarter. Morgan Stanley increased its stake in Chesapeake Lodging Trust by 53.1% during the 2nd quarter. Morgan Stanley now owns 2,371,712 shares of the real estate investment trust’s stock worth $75,041,000 after buying an additional 822,403 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Chesapeake Lodging Trust by 205.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,014,720 shares of the real estate investment trust’s stock worth $32,457,000 after buying an additional 682,205 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Chesapeake Lodging Trust by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 957,647 shares of the real estate investment trust’s stock worth $30,300,000 after buying an additional 8,023 shares in the last quarter. Institutional investors own 98.86% 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. The Trust owns 20 hotels with an aggregate of 6,279 rooms in eight states and the District of Columbia.
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