Mason Street Advisors LLC bought a new stake in Chesapeake Lodging Trust (NYSE:CHSP) during the second quarter, Holdings Channel reports. The fund bought 11,746 shares of the real estate investment trust’s stock, valued at approximately $273,000.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Chesapeake Lodging Trust by 4.4% in the second quarter. Vanguard Group Inc. now owns 9,430,269 shares of the real estate investment trust’s stock worth $219,254,000 after buying an additional 395,442 shares during the period. Goldman Sachs Group Inc. boosted 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 worth $178,043,000 after buying an additional 165,344 shares during the period. BlackRock Fund Advisors boosted its stake in Chesapeake Lodging Trust by 3.9% in the second quarter. BlackRock Fund Advisors now owns 3,928,628 shares of the real estate investment trust’s stock worth $91,341,000 after buying an additional 146,609 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Chesapeake Lodging Trust by 23.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,585,657 shares of the real estate investment trust’s stock worth $60,117,000 after buying an additional 485,373 shares during the period. Finally, Prudential Financial Inc. boosted its stake in Chesapeake Lodging Trust by 21.0% in the second quarter. Prudential Financial Inc. now owns 2,337,226 shares of the real estate investment trust’s stock worth $54,341,000 after buying an additional 405,582 shares during the period. 95.78% of the stock is currently owned by hedge funds and other institutional investors.
Chesapeake Lodging Trust (NYSE:CHSP) opened at 22.38 on Friday. The stock’s 50 day moving average is $24.08 and its 200-day moving average is $24.43. Chesapeake Lodging Trust has a 52-week low of $21.55 and a 52-week high of $29.91. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 18.73 and a beta of 1.21.
Chesapeake Lodging Trust (NYSE:CHSP) last issued its quarterly earnings data on Friday, July 29th. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.47 by $0.03. The company had revenue of $169.40 million for the quarter, compared to the consensus estimate of $172.38 million. Chesapeake Lodging Trust had a net margin of 12.96% and a return on equity of 6.68%. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.68 EPS. Equities research analysts anticipate that Chesapeake Lodging Trust will post $1.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.60 dividend on an annualized basis and a yield of 7.15%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is 133.33%.
A number of equities research analysts recently commented on CHSP shares. Zacks Investment Research cut shares of Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a report on Tuesday, September 6th. JMP Securities reiterated a “hold” rating on shares of Chesapeake Lodging Trust in a research note on Thursday, July 14th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $24.00 price objective on shares of Chesapeake Lodging Trust in a research note on Monday, June 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $26.17.
In related news, Director Thomas D. Eckert sold 21,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 44,178 shares in the company, valued at $1,119,470.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.20% of the company’s stock.
About Chesapeake Lodging Trust
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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