Trading Report: Today, Chesapeake Lodging Trust (CHSP) Given Average Rating of “Hold” by Brokerages

Today, Chesapeake Lodging Trust (CHSP) Given Average Rating of “Hold” by Brokerages

Chesapeake Lodging Trust (NYSE:CHSP) has been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the company. Two research analysts have rated the stock with a sell rating and six have issued a hold rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $25.20.

A number of research analysts recently weighed in on the company. Deutsche Bank AG cut their price objective on Chesapeake Lodging Trust from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, November 2nd. Zacks Investment Research downgraded Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th.

Shares of Chesapeake Lodging Trust (NYSE:CHSP) opened at 23.46 on Tuesday. Chesapeake Lodging Trust has a 52-week low of $20.81 and a 52-week high of $27.74. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 19.95 and a beta of 1.03. The company’s 50 day moving average price is $22.58 and its 200 day moving average price is $23.79.

Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.74 by $0.03. Chesapeake Lodging Trust had a return on equity of 6.60% and a net margin of 12.77%. The firm had revenue of $164.50 million for the quarter, compared to analysts’ expectations of $167.65 million. During the same period last year, the business earned $0.73 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Analysts forecast that Chesapeake Lodging Trust will post $1.15 earnings per share for the current year.

In other news, Director George F. Mckenzie acquired 1,500 shares of the firm’s stock in a transaction dated Friday, November 18th. The shares were bought at an average price of $22.84 per share, with a total value of $34,260.00. Following the acquisition, the director now owns 17,178 shares of the company’s stock, valued at $392,345.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James L. Francis acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 15th. The shares were purchased at an average cost of $22.79 per share, for a total transaction of $113,950.00. Following the acquisition, the chief executive officer now directly owns 495,572 shares in the company, valued at approximately $11,294,085.88. The disclosure for this purchase can be found here. 2.20% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in CHSP. Vanguard Group Inc. raised its stake in shares of Chesapeake Lodging Trust by 4.4% in the second quarter. Vanguard Group Inc. now owns 9,430,269 shares of the real estate investment trust’s stock valued at $219,254,000 after buying an additional 395,442 shares during the last quarter. BlackRock Fund Advisors raised its stake in shares of Chesapeake Lodging Trust by 9.1% in the third quarter. BlackRock Fund Advisors now owns 4,285,400 shares of the real estate investment trust’s stock valued at $98,136,000 after buying an additional 356,772 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Chesapeake Lodging Trust by 23.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,585,657 shares of the real estate investment trust’s stock valued at $60,117,000 after buying an additional 485,373 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Chesapeake Lodging Trust by 1.8% in the third quarter. Prudential Financial Inc. now owns 2,379,184 shares of the real estate investment trust’s stock valued at $54,483,000 after buying an additional 41,958 shares during the last quarter. Finally, Adelante Capital Management LLC raised its stake in shares of Chesapeake Lodging Trust by 8.5% in the third quarter. Adelante Capital Management LLC now owns 1,949,333 shares of the real estate investment trust’s stock valued at $44,640,000 after buying an additional 152,623 shares during the last quarter. 97.86% of the stock is currently owned by institutional investors.

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