JPMorgan Chase & Co. cut its stake in shares of Chesapeake Lodging Trust (NYSE:CHSP) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 233,978 shares of the real estate investment trust’s stock after selling 11,702 shares during the period. JPMorgan Chase & Co. owned approximately 0.40% of Chesapeake Lodging Trust worth $5,359,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. IndexIQ Advisors LLC raised its position in shares of Chesapeake Lodging Trust by 24.4% in the third quarter. IndexIQ Advisors LLC now owns 59,171 shares of the real estate investment trust’s stock valued at $1,355,000 after buying an additional 11,603 shares during the period. KBC Group NV raised its position in shares of Chesapeake Lodging Trust by 56.1% in the third quarter. KBC Group NV now owns 151,475 shares of the real estate investment trust’s stock valued at $3,468,000 after buying an additional 54,449 shares during the period. Bank of New York Mellon Corp raised its position in shares of Chesapeake Lodging Trust by 0.3% in the third quarter. Bank of New York Mellon Corp now owns 1,423,241 shares of the real estate investment trust’s stock valued at $32,593,000 after buying an additional 3,992 shares during the period. TD Asset Management Inc. raised its position in shares of Chesapeake Lodging Trust by 30.8% in the third quarter. TD Asset Management Inc. now owns 21,650 shares of the real estate investment trust’s stock valued at $496,000 after buying an additional 5,100 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Chesapeake Lodging Trust by 26.2% in the third quarter. First Trust Advisors LP now owns 397,526 shares of the real estate investment trust’s stock valued at $9,103,000 after buying an additional 82,466 shares during the period. 95.74% of the stock is currently owned by institutional investors and hedge funds.
Chesapeake Lodging Trust (NYSE:CHSP) traded up 0.67% during midday trading on Wednesday, reaching $25.43. The company’s stock had a trading volume of 160,819 shares. The company has a market capitalization of $1.49 billion, a P/E ratio of 21.62 and a beta of 1.08. The company has a 50 day moving average of $25.29 and a 200-day moving average of $24.20. Chesapeake Lodging Trust has a 1-year low of $20.81 and a 1-year high of $27.18.
Chesapeake Lodging Trust (NYSE:CHSP) last released its quarterly earnings results on Tuesday, November 1st. The real estate investment trust reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.74 by $0.03. The company had revenue of $164.50 million for the quarter, compared to analysts’ expectations of $167.65 million. Chesapeake Lodging Trust had a return on equity of 6.60% and a net margin of 12.77%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the business posted $0.73 EPS. Equities research analysts anticipate that Chesapeake Lodging Trust will post $1.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Friday, December 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 6.33%. The ex-dividend date of this dividend is Wednesday, December 28th. Chesapeake Lodging Trust’s payout ratio is 135.59%.
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Several research firms recently issued reports on CHSP. Zacks Investment Research raised Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a research note on Friday, January 6th. Deutsche Bank AG decreased their target price on Chesapeake Lodging Trust from $23.00 to $22.00 and set a “hold” rating on the stock in a research note on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. Chesapeake Lodging Trust presently has a consensus rating of “Hold” and an average target price of $23.75.
In other Chesapeake Lodging Trust news, CEO James L. Francis acquired 2,500 shares of the stock in a transaction dated Monday, November 28th. The stock was acquired at an average price of $23.26 per share, with a total value of $58,150.00. Following the completion of the transaction, the chief executive officer now directly owns 498,072 shares in the company, valued at $11,585,154.72. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James L. Francis acquired 1,500 shares of the stock in a transaction dated Monday, December 19th. The stock was acquired at an average cost of $26.71 per share, with a total value of $40,065.00. Following the transaction, the chief executive officer now owns 499,572 shares of the company’s stock, valued at $13,343,568.12. The disclosure for this purchase can be found here. Company insiders own 2.20% of the company’s stock.
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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