Westpac Banking Corp lowered its position in Chesapeake Lodging Trust (NYSE:CHSP) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 213,326 shares of the real estate investment trust’s stock after selling 5,609 shares during the quarter. Westpac Banking Corp owned about 0.35% of Chesapeake Lodging Trust worth $5,220,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in Chesapeake Lodging Trust by 4.9% in the fourth quarter. Teachers Advisors LLC now owns 100,913 shares of the real estate investment trust’s stock valued at $2,610,000 after acquiring an additional 4,752 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in Chesapeake Lodging Trust by 1.2% during the first quarter. Louisiana State Employees Retirement System now owns 24,500 shares of the real estate investment trust’s stock valued at $587,000 after buying an additional 300 shares during the period. ProShare Advisors LLC boosted its position in Chesapeake Lodging Trust by 3.5% during the first quarter. ProShare Advisors LLC now owns 11,272 shares of the real estate investment trust’s stock valued at $197,000 after buying an additional 386 shares during the period. Russell Investments Group Ltd. boosted its position in Chesapeake Lodging Trust by 26.9% during the first quarter. Russell Investments Group Ltd. now owns 396,090 shares of the real estate investment trust’s stock valued at $9,489,000 after buying an additional 83,930 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Chesapeake Lodging Trust by 17.4% during the first quarter. Wells Fargo & Company MN now owns 599,355 shares of the real estate investment trust’s stock valued at $14,360,000 after buying an additional 88,704 shares during the period. 98.54% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have issued reports on CHSP shares. Zacks Investment Research upgraded shares of Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. TheStreet lowered shares of Chesapeake Lodging Trust from a “b-” rating to a “c+” rating in a report on Tuesday, May 30th. Robert W. Baird reiterated an “outperform” rating and set a $27.00 target price (up from $26.00) on shares of Chesapeake Lodging Trust in a report on Friday, June 16th. BidaskClub upgraded shares of Chesapeake Lodging Trust from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $25.00 price objective on shares of Chesapeake Lodging Trust in a report on Friday, August 4th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $25.60.
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Shares of Chesapeake Lodging Trust (NYSE CHSP) opened at 25.38 on Wednesday. Chesapeake Lodging Trust has a 12 month low of $20.81 and a 12 month high of $27.08. The company’s 50 day moving average is $25.24 and its 200 day moving average is $24.34. The company has a market cap of $1.50 billion, a P/E ratio of 25.95 and a beta of 1.11.
Chesapeake Lodging Trust (NYSE:CHSP) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.02. The company had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $161.41 million. Chesapeake Lodging Trust had a net margin of 10.77% and a return on equity of 5.53%. Chesapeake Lodging Trust’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.75 EPS. On average, equities research analysts predict that Chesapeake Lodging Trust will post $0.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 29th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.30%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is presently 164.95%.
About Chesapeake Lodging Trust
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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