Chesapeake Lodging Trust (NYSE:CHSP) – Analysts at KeyCorp decreased their FY2018 EPS estimates for Chesapeake Lodging Trust in a research note issued to investors on Tuesday. KeyCorp analyst A. Wurschmidt now expects that the real estate investment trust will post earnings of $2.41 per share for the year, down from their previous forecast of $2.45. KeyCorp has a “Hold” rating on the stock.
Several other equities analysts also recently issued reports on the stock. J P Morgan Chase & Co downgraded shares of Chesapeake Lodging Trust from a “neutral” rating to an “underweight” rating in a research note on Thursday, November 16th. Janney Montgomery Scott upgraded shares of Chesapeake Lodging Trust from a “neutral” rating to a “buy” rating and upped their price objective for the company from $25.00 to $32.00 in a research note on Wednesday, September 27th. Zacks Investment Research upgraded shares of Chesapeake Lodging Trust from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research note on Thursday, November 2nd. Robert W. Baird reiterated a “buy” rating and set a $27.00 target price on shares of Chesapeake Lodging Trust in a research note on Sunday, November 5th. Finally, SunTrust Banks reiterated a “hold” rating and set a $23.00 target price on shares of Chesapeake Lodging Trust in a research note on Tuesday, October 17th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $27.17.
Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). Chesapeake Lodging Trust had a return on equity of 5.11% and a net margin of 9.71%. The company had revenue of $158.28 million for the quarter, compared to analysts’ expectations of $159.18 million. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.71 EPS.
A number of hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Chesapeake Lodging Trust by 9.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,843 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 399 shares during the last quarter. GAM Holding AG boosted its holdings in shares of Chesapeake Lodging Trust by 8.8% in the 2nd quarter. GAM Holding AG now owns 5,307 shares of the real estate investment trust’s stock valued at $130,000 after purchasing an additional 429 shares during the last quarter. Invictus RG acquired a new position in shares of Chesapeake Lodging Trust in the 3rd quarter valued at $139,000. Flinton Capital Management LLC boosted its holdings in shares of Chesapeake Lodging Trust by 78.4% in the 2nd quarter. Flinton Capital Management LLC now owns 5,796 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 2,548 shares during the last quarter. Finally, FNY Managed Accounts LLC acquired a new position in shares of Chesapeake Lodging Trust in the 3rd quarter valued at $161,000. 99.83% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Jeffrey D. Nuechterlein sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $28.68, for a total transaction of $172,080.00. Following the completion of the transaction, the director now directly owns 19,485 shares of the company’s stock, valued at approximately $558,829.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.20% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 29th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.82%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is 195.12%.
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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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