Chesapeake Lodging Trust (NYSE:CHSP) Lowered to “Hold” at Zacks Investment Research

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

Separately, Robert W. Baird set a $182.00 price target on Visa and gave the company an “outperform” rating in a research report on Wednesday, May 8th. Six analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus target price of $30.60.

CHSP stock traded down $0.41 during mid-day trading on Tuesday, reaching $27.87. The company had a trading volume of 12,274 shares, compared to its average volume of 376,198. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.55 and a quick ratio of 1.55. The company has a market cap of $1.73 billion, a P/E ratio of 11.93, a price-to-earnings-growth ratio of 2.34 and a beta of 0.98. The company has a fifty day moving average of $28.74. Chesapeake Lodging Trust has a fifty-two week low of $23.68 and a fifty-two week high of $33.81.

Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.30). The company had revenue of $133.70 million during the quarter, compared to analyst estimates of $134.00 million. Chesapeake Lodging Trust had a net margin of 16.56% and a return on equity of 6.25%. Chesapeake Lodging Trust’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS. Sell-side analysts predict that Chesapeake Lodging Trust will post 2.43 EPS for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue raised its position in shares of Chesapeake Lodging Trust by 1.0% during the 1st quarter. State of Alaska Department of Revenue now owns 39,951 shares of the real estate investment trust’s stock worth $1,109,000 after acquiring an additional 412 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Chesapeake Lodging Trust by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 23,391 shares of the real estate investment trust’s stock worth $651,000 after acquiring an additional 423 shares in the last quarter. Arizona State Retirement System raised its position in shares of Chesapeake Lodging Trust by 0.8% during the 1st quarter. Arizona State Retirement System now owns 93,738 shares of the real estate investment trust’s stock worth $2,607,000 after acquiring an additional 732 shares in the last quarter. Mason Street Advisors LLC raised its position in shares of Chesapeake Lodging Trust by 4.1% during the 1st quarter. Mason Street Advisors LLC now owns 19,515 shares of the real estate investment trust’s stock worth $543,000 after acquiring an additional 760 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. raised its position in shares of Chesapeake Lodging Trust by 6.4% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 15,265 shares of the real estate investment trust’s stock worth $425,000 after acquiring an additional 912 shares in the last quarter. 97.81% 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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