Chesapeake Lodging Trust (NYSE:CHSP) Upgraded to B by TheStreet

Chesapeake Lodging Trust (NYSE:CHSP) was upgraded by TheStreet from a “c+” rating to a “b” rating in a report issued on Friday, August 4th.

Several other research firms have also recently commented on CHSP. Zacks Investment Research raised Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. Robert W. Baird reiterated an “outperform” rating and issued a $27.00 price objective (up from $26.00) on shares of Chesapeake Lodging Trust in a research note on Friday, June 16th. BidaskClub upgraded Chesapeake Lodging Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Royal Bank Of Canada reiterated a “hold” rating and issued a $25.00 price objective on shares of Chesapeake Lodging Trust in a research note on Friday, August 4th. Finally, 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 research note on Tuesday, July 18th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Chesapeake Lodging Trust presently has an average rating of “Hold” and an average price target of $25.20.

Chesapeake Lodging Trust (NYSE:CHSP) opened at 24.61 on Friday. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 25.16 and a beta of 1.13. Chesapeake Lodging Trust has a 12-month low of $20.81 and a 12-month high of $27.08. The stock’s 50 day moving average price is $24.92 and its 200 day moving average price is $24.32.

Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.65 EPS for the quarter, beating the 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 return on equity of 5.53% and a net margin of 10.77%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 EPS. Analysts forecast that Chesapeake Lodging Trust will post $0.82 EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in 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 increased 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 worth $85,770,000 after buying an additional 851,341 shares during the period. Mesirow Financial Investment Management Equity Management bought a new position in Chesapeake Lodging Trust during the second quarter worth $18,597,000. Norges Bank bought a new position in Chesapeake Lodging Trust during the fourth quarter worth $17,146,000. Finally, Bank of New York Mellon Corp increased its position in Chesapeake Lodging Trust by 29.1% in the second quarter. Bank of New York Mellon Corp now owns 2,723,171 shares of the real estate investment trust’s stock worth $66,637,000 after buying an additional 614,111 shares during the period. Hedge funds and other institutional investors own 99.16% of the company’s stock.

Chesapeake Lodging Trust Company Profile

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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