Chesapeake Lodging Trust (CHSP) Lowered to Hold at Zacks Investment Research

Chesapeake Lodging Trust (NYSE:CHSP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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 brokerages also recently issued reports on CHSP. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $23.00 price target on shares of Chesapeake Lodging Trust in a report on Tuesday, October 17th. BidaskClub raised Chesapeake Lodging Trust from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 28th. Robert W. Baird set a $27.00 price objective on Chesapeake Lodging Trust and gave the company a “buy” rating in a report on Sunday, October 1st. Janney Montgomery Scott raised Chesapeake Lodging Trust from a “neutral” rating to a “buy” rating and increased their price objective for the company from $25.00 to $32.00 in a report on Wednesday, September 27th. Finally, KeyCorp reissued a “hold” rating on shares of Chesapeake Lodging Trust in a report on Sunday, September 24th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Chesapeake Lodging Trust currently has an average rating of “Buy” and an average target price of $26.50.

Chesapeake Lodging Trust (NYSE:CHSP) last announced its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. The firm had revenue of $162.50 million during the quarter, compared to the consensus estimate of $161.41 million. Chesapeake Lodging Trust had a return on equity of 5.53% and a net margin of 10.77%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.75 earnings per share.

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A number of large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its position in Chesapeake Lodging Trust by 5.1% in the second quarter. SG Americas Securities LLC now owns 6,666 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 325 shares in the last quarter. Texas Permanent School Fund raised its position in Chesapeake Lodging Trust by 0.8% in the second quarter. Texas Permanent School Fund now owns 43,876 shares of the real estate investment trust’s stock worth $1,074,000 after acquiring an additional 362 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Chesapeake Lodging Trust by 9.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,843 shares of the real estate investment trust’s stock valued at $119,000 after buying an additional 399 shares in the last quarter. Dupont Capital Management Corp increased its position in shares of Chesapeake Lodging Trust by 0.7% in the second quarter. Dupont Capital Management Corp now owns 56,837 shares of the real estate investment trust’s stock valued at $1,391,000 after buying an additional 421 shares in the last quarter. Finally, GAM Holding AG increased its position in shares of Chesapeake Lodging Trust by 8.8% in the second quarter. GAM Holding AG now owns 5,307 shares of the real estate investment trust’s stock valued at $130,000 after buying an additional 429 shares in the last quarter. Hedge funds and other institutional investors own 97.99% 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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