Bank of Montreal Can acquired a new stake in Chesapeake Lodging Trust (NYSE:CHSP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 128,547 shares of the real estate investment trust’s stock, valued at approximately $2,989,000.
Other large investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Chesapeake Lodging Trust by 2.5% in the first quarter. Goldman Sachs Group Inc. now owns 6,728,802 shares of the real estate investment trust’s stock valued at $178,043,000 after buying an additional 165,344 shares in the last quarter. BlackRock Fund Advisors raised its stake in Chesapeake Lodging Trust by 1.8% in the first quarter. BlackRock Fund Advisors now owns 3,782,019 shares of the real estate investment trust’s stock valued at $100,072,000 after buying an additional 67,026 shares in the last quarter. Amici Capital LLC bought a new stake in Chesapeake Lodging Trust during the first quarter valued at $1,588,000. Nuveen Asset Management LLC raised its stake in Chesapeake Lodging Trust by 5.0% in the first quarter. Nuveen Asset Management LLC now owns 1,025,783 shares of the real estate investment trust’s stock valued at $27,142,000 after buying an additional 48,855 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Chesapeake Lodging Trust by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,100,284 shares of the real estate investment trust’s stock valued at $55,574,000 after buying an additional 43,089 shares in the last quarter. 95.74% of the stock is owned by institutional investors and hedge funds.
Chesapeake Lodging Trust (NYSE:CHSP) traded down 0.22% during mid-day trading on Monday, reaching $22.80. The company had a trading volume of 282,716 shares. The stock has a market cap of $1.34 billion, a PE ratio of 19.08 and a beta of 1.21. The firm’s 50-day moving average price is $23.64 and its 200-day moving average price is $24.29. Chesapeake Lodging Trust has a 12 month low of $21.55 and a 12 month high of $29.91.
Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings data on Friday, July 29th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.47 by $0.03. Chesapeake Lodging Trust had a return on equity of 6.68% and a net margin of 12.96%. The company earned $169.40 million during the quarter, compared to the consensus estimate of $172.38 million. During the same quarter last year, the firm earned $0.68 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts forecast that Chesapeake Lodging Trust will post $1.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Investors of record on Friday, September 30th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 7.02%. The ex-dividend date of this dividend was Wednesday, September 28th. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is presently 133.33%.
CHSP has been the subject of several research reports. Zacks Investment Research lowered Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a research note on Monday, August 29th. JMP Securities reissued a “hold” rating on shares of Chesapeake Lodging Trust in a research note on Thursday, July 14th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $24.00 target price on shares of Chesapeake Lodging Trust in a research report on Monday, June 27th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $26.17.
In other Chesapeake Lodging Trust news, Director Thomas D. Eckert sold 21,000 shares of the company’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $25.34, for a total transaction of $532,140.00. Following the completion of the sale, the director now owns 44,178 shares in the company, valued at approximately $1,119,470.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
Chesapeake Lodging Trust Company Profile
Chesapeake Lodging Trust (the Trust) is a self-advised real estate investment trust (REIT). The Trust is focused on investments primarily in upper-upscale hotels in business and convention markets and, on service hotels in urban settings or locations in the United States. The Trust owns over 20 hotels with over 6,700 rooms in approximately nine states and the District of Columbia.
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