Barnett & Company Inc. cut its stake in shares of Chesapeake Lodging Trust (NYSE:CHSP) by 7.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 65,750 shares of the real estate investment trust’s stock after selling 5,020 shares during the period. Barnett & Company Inc.’s holdings in Chesapeake Lodging Trust were worth $1,781,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CHSP. Bank of New York Mellon Corp boosted its position in Chesapeake Lodging Trust by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,756,845 shares of the real estate investment trust’s stock worth $74,352,000 after purchasing an additional 33,674 shares during the period. State Street Corp boosted its position in Chesapeake Lodging Trust by 2.0% during the 2nd quarter. State Street Corp now owns 2,325,547 shares of the real estate investment trust’s stock worth $56,906,000 after purchasing an additional 46,045 shares during the period. Northern Trust Corp boosted its position in Chesapeake Lodging Trust by 27.0% during the 2nd quarter. Northern Trust Corp now owns 2,239,578 shares of the real estate investment trust’s stock worth $54,803,000 after purchasing an additional 476,562 shares during the period. Prudential Financial Inc. boosted its position in Chesapeake Lodging Trust by 7.3% during the 3rd quarter. Prudential Financial Inc. now owns 1,064,281 shares of the real estate investment trust’s stock worth $28,703,000 after purchasing an additional 72,088 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Chesapeake Lodging Trust by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 900,308 shares of the real estate investment trust’s stock worth $24,281,000 after purchasing an additional 19,777 shares during the period. 99.88% of the stock is owned by institutional investors.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, January 2nd. JPMorgan Chase & Co. cut shares of Chesapeake Lodging Trust from a “neutral” rating to an “underweight” rating in a research report on Thursday, November 16th. Robert W. Baird reaffirmed a “buy” rating and set a $27.00 price target on shares of Chesapeake Lodging Trust in a research report on Sunday, November 5th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $23.00 price target on shares of Chesapeake Lodging Trust in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $27.17.
Chesapeake Lodging Trust (NYSE:CHSP) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). Chesapeake Lodging Trust had a return on equity of 5.11% and a net margin of 9.71%. The firm had revenue of $158.28 million during the quarter, compared to analyst estimates of $159.18 million. During the same quarter in the prior year, the firm earned $0.71 EPS. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. research analysts predict that Chesapeake Lodging Trust will post 2.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Shareholders of record on Friday, December 29th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.60 dividend on an annualized basis and a yield of 5.94%. Chesapeake Lodging Trust’s dividend payout ratio is currently 197.53%.
In other Chesapeake Lodging Trust news, Director Jeffrey D. Nuechterlein sold 6,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $28.68, for a total value of $172,080.00. Following the transaction, the director now owns 19,485 shares in the company, valued at approximately $558,829.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.20% of the company’s stock.
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About Chesapeake Lodging Trust
Chesapeake Lodging Trust is a real estate investment trust. The Company is focused on investments primarily in upper-upscale hotels in various business and convention markets and, on a selective basis, select-service hotels in urban settings or other locations in the United States. The Company operates through the hotel ownership segment.
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