Chesapeake Lodging Trust (CHSP) Stock Rating Lowered by Zacks Investment Research

Chesapeake Lodging Trust (NYSE:CHSP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday, Zacks.com reports.

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. “

CHSP has been the subject of several other reports. Deutsche Bank reaffirmed a “hold” rating and set a $30.00 price objective on shares of Chesapeake Lodging Trust in a research report on Monday, February 25th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Chesapeake Lodging Trust in a research report on Friday, January 25th. Finally, Robert W. Baird raised shares of Chesapeake Lodging Trust from a “neutral” rating to an “outperform” rating and set a $31.00 price objective for the company in a research report on Tuesday, January 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.00.

Shares of Chesapeake Lodging Trust stock traded up $0.33 during trading on Wednesday, hitting $28.63. 216,800 shares of the stock were exchanged, compared to its average volume of 326,574. The stock has a market cap of $1.72 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 2.33 and a beta of 1.15. Chesapeake Lodging Trust has a 12-month low of $23.68 and a 12-month high of $33.81. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.71.

Chesapeake Lodging Trust (NYSE:CHSP) last released its quarterly earnings data on Thursday, February 21st. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.03. The business had revenue of $142.50 million during the quarter, compared to analysts’ expectations of $140.58 million. Chesapeake Lodging Trust had a net margin of 16.24% and a return on equity of 6.09%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $0.48 EPS. As a group, sell-side analysts forecast that Chesapeake Lodging Trust will post 2.43 earnings per share for the current fiscal year.

In related news, Director Jeffrey D. Nuechterlein purchased 1,500 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The shares were purchased at an average cost of $30.11 per share, for a total transaction of $45,165.00. Following the purchase, the director now directly owns 14,654 shares of the company’s stock, valued at $441,231.94. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in CHSP. NumerixS Investment Technologies Inc raised its stake in Chesapeake Lodging Trust by 757.1% during the 4th quarter. NumerixS Investment Technologies Inc now owns 6,000 shares of the real estate investment trust’s stock worth $147,000 after acquiring an additional 5,300 shares in the last quarter. Eii Capital Management Inc. raised its stake in Chesapeake Lodging Trust by 5.6% during the 4th quarter. Eii Capital Management Inc. now owns 7,390 shares of the real estate investment trust’s stock worth $180,000 after acquiring an additional 395 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Chesapeake Lodging Trust by 74.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 6,620 shares of the real estate investment trust’s stock worth $184,000 after acquiring an additional 2,820 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in Chesapeake Lodging Trust during the 4th quarter worth $219,000. Finally, Jane Street Group LLC acquired a new stake in Chesapeake Lodging Trust during the 4th quarter worth $221,000. Hedge funds and other institutional investors own 99.44% of the company’s stock.

About Chesapeake Lodging Trust

Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States.

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