Texas Permanent School Fund reduced its stake in Chesapeake Lodging Trust (NYSE:CHSP) by 0.3% during the third quarter, Holdings Channel reports. The firm owned 45,785 shares of the real estate investment trust’s stock after selling 157 shares during the period. Texas Permanent School Fund owned 0.08% of Chesapeake Lodging Trust worth $1,048,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Acrospire Investment Management LLC raised its position in Chesapeake Lodging Trust by 96.0% in the second quarter. Acrospire Investment Management LLC now owns 4,900 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 2,400 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in Chesapeake Lodging Trust during the second quarter worth approximately $116,000. BlackRock Japan Co. Ltd raised its position in Chesapeake Lodging Trust by 106.1% in the second quarter. BlackRock Japan Co. Ltd now owns 6,526 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 3,359 shares in the last quarter. Pacad Investment Ltd. purchased a new position in Chesapeake Lodging Trust during the second quarter worth approximately $163,000. Finally, PineBridge Investments L.P. raised its position in Chesapeake Lodging Trust by 3.8% in the second quarter. PineBridge Investments L.P. now owns 7,619 shares of the real estate investment trust’s stock worth $177,000 after buying an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 97.86% of the company’s stock.
Shares of Chesapeake Lodging Trust (NYSE:CHSP) traded up 1.16% during midday trading on Friday, hitting $23.46. 127,600 shares of the company’s stock were exchanged. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 19.95 and a beta of 1.03. The company has a 50-day moving average of $22.58 and a 200-day moving average of $23.79. Chesapeake Lodging Trust has a 52 week low of $20.81 and a 52 week high of $27.74.
Chesapeake Lodging Trust (NYSE:CHSP) last issued its earnings results on Tuesday, November 1st. The real estate investment trust reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by $0.03. Chesapeake Lodging Trust had a net margin of 12.77% and a return on equity of 6.60%. The firm earned $164.50 million during the quarter, compared to the consensus estimate of $167.65 million. During the same period in the previous year, the company posted $0.73 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts expect that Chesapeake Lodging Trust will post $1.15 EPS for the current fiscal year.
CHSP has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a research note on Friday, August 19th. Deutsche Bank AG decreased their price objective on shares of Chesapeake Lodging Trust from $23.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, November 2nd. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Chesapeake Lodging Trust currently has an average rating of “Hold” and a consensus target price of $25.20.
In other news, CAO Graham J. Wootten bought 1,500 shares of the stock in a transaction on Thursday, November 3rd. The stock was purchased at an average price of $21.00 per share, with a total value of $31,500.00. Following the completion of the purchase, the chief accounting officer now owns 90,669 shares of the company’s stock, valued at $1,904,049. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO James L. Francis bought 5,000 shares of the stock in a transaction on Tuesday, November 15th. The stock was purchased at an average cost of $22.79 per share, with a total value of $113,950.00. Following the purchase, the chief executive officer now directly owns 495,572 shares of the company’s stock, valued at approximately $11,294,085.88. The disclosure for this purchase can be found here. 2.20% of the stock is currently owned by company insiders.
About Chesapeake Lodging Trust
Chesapeake Lodging Trust (the Trust) is a self-advised real estate investment trust (REIT). The Trust is focused on investments primarily in upper-upscale hotels in business and convention markets and, on service hotels in urban settings or locations in the United States. The Trust owns over 20 hotels with over 6,700 rooms in approximately nine states and the District of Columbia.