Vanguard Group Inc. increased its holdings in shares of Chesapeake Lodging Trust (NYSE:CHSP) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,369,336 shares of the real estate investment trust’s stock after purchasing an additional 79,085 shares during the quarter. Vanguard Group Inc. owned approximately 15.51% of Chesapeake Lodging Trust worth $300,474,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Chesapeake Lodging Trust during the third quarter worth about $242,000. Riverhead Capital Management LLC boosted its stake in Chesapeake Lodging Trust by 37.3% during the third quarter. Riverhead Capital Management LLC now owns 8,469 shares of the real estate investment trust’s stock valued at $272,000 after buying an additional 2,300 shares during the last quarter. Jennison Associates LLC bought a new position in Chesapeake Lodging Trust during the third quarter valued at approximately $397,000. First Quadrant L P CA bought a new position in Chesapeake Lodging Trust during the third quarter valued at approximately $404,000. Finally, WINTON GROUP Ltd bought a new position in Chesapeake Lodging Trust during the second quarter valued at approximately $400,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.
CHSP has been the subject of a number of research reports. Zacks Investment Research raised Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a research note on Wednesday, November 14th. ValuEngine lowered Chesapeake Lodging Trust from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Wells Fargo & Co dropped their price target on Chesapeake Lodging Trust from $32.00 to $28.00 and set a “market perform” rating for the company in a research note on Friday, November 2nd. Finally, Robert W. Baird raised Chesapeake Lodging Trust from a “neutral” rating to an “outperform” rating and set a $31.00 price target for the company in a research note on Tuesday, January 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Chesapeake Lodging Trust presently has a consensus rating of “Hold” and a consensus price target of $29.55.
Shares of Chesapeake Lodging Trust stock opened at $26.88 on Monday. Chesapeake Lodging Trust has a 12 month low of $23.68 and a 12 month high of $33.81. The company has a market cap of $1.60 billion, a P/E ratio of 12.39, a PEG ratio of 2.14 and a beta of 1.07. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.75 and a quick ratio of 1.75.
Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.32). The company had revenue of $156.35 million during the quarter, compared to the consensus estimate of $157.13 million. Chesapeake Lodging Trust had a net margin of 18.64% and a return on equity of 7.47%. Chesapeake Lodging Trust’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.64 earnings per share. Research analysts predict that Chesapeake Lodging Trust will post 2.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 31st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.95%. The ex-dividend date is Friday, December 28th. Chesapeake Lodging Trust’s payout ratio is 73.73%.
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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.
Further Reading: Outstanding Shares
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