Chesapeake Lodging Trust (NYSE:CHSP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “

Several other research firms have also commented on CHSP. 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 report on Friday, November 2nd. Robert W. Baird raised shares of Chesapeake Lodging Trust from a “neutral” rating to an “outperform” rating and set a $31.00 price objective on the stock in a report on Tuesday, January 8th. Finally, ValuEngine downgraded shares of Chesapeake Lodging Trust from a “buy” rating to a “hold” rating in a research note on Friday, October 12th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Chesapeake Lodging Trust presently has a consensus rating of “Hold” and an average price target of $29.55.

Chesapeake Lodging Trust stock traded up $0.05 during trading hours on Wednesday, hitting $26.65. 380,900 shares of the company traded hands, compared to its average volume of 407,167. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.19 and a beta of 1.07. Chesapeake Lodging Trust has a 1-year low of $23.68 and a 1-year high of $33.81.

Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.32). The business 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%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. Research analysts expect that Chesapeake Lodging Trust will post 2.31 earnings per share for the current fiscal year.

In other news, Director Jeffrey D. Nuechterlein sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $28.45, for a total transaction of $28,450.00. Following the completion of the sale, the director now owns 13,154 shares in the company, valued at approximately $374,231.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey D. Nuechterlein sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $29.74, for a total transaction of $89,220.00. Following the transaction, the director now directly owns 14,154 shares of the company’s stock, valued at approximately $420,939.96. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Several large investors have recently modified their holdings of CHSP. Strs Ohio increased its position in shares of Chesapeake Lodging Trust by 5.9% in the fourth quarter. Strs Ohio now owns 103,002 shares of the real estate investment trust’s stock worth $2,508,000 after acquiring an additional 5,698 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Chesapeake Lodging Trust by 12.2% in the fourth quarter. Bank of Montreal Can now owns 196,232 shares of the real estate investment trust’s stock worth $4,778,000 after acquiring an additional 21,350 shares during the last quarter. Bowling Portfolio Management LLC boosted its stake in shares of Chesapeake Lodging Trust by 32.1% in the 4th quarter. Bowling Portfolio Management LLC now owns 41,983 shares of the real estate investment trust’s stock valued at $1,022,000 after purchasing an additional 10,213 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Chesapeake Lodging Trust by 1.6% during the 4th quarter. State of Alaska Department of Revenue now owns 39,539 shares of the real estate investment trust’s stock worth $961,000 after purchasing an additional 640 shares during the last quarter. Finally, Vanguard Group Inc boosted its position in Chesapeake Lodging Trust by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 9,369,336 shares of the real estate investment trust’s stock worth $300,474,000 after acquiring an additional 79,085 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Chesapeake Lodging Trust Company Profile

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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Analyst Recommendations for Chesapeake Lodging Trust (NYSE:CHSP)

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