Chesapeake Lodging Trust (NYSE:CHSP) – SunTrust Banks raised their Q3 2018 earnings estimates for shares of Chesapeake Lodging Trust in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst P. Scholes now forecasts that the real estate investment trust will earn $0.69 per share for the quarter, up from their prior estimate of $0.68. SunTrust Banks has a “Hold” rating and a $23.00 price objective on the stock.
CHSP has been the topic of a number of other reports. Zacks Investment Research upgraded Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a report on Tuesday, January 2nd. JPMorgan Chase & Co. cut Chesapeake Lodging Trust from a “neutral” rating to an “underweight” rating in a research report on Thursday, November 16th. Robert W. Baird reissued a “buy” rating and issued a $27.00 price objective on shares of Chesapeake Lodging Trust in a report on Sunday, November 5th. Finally, Deutsche Bank boosted their price objective on Chesapeake Lodging Trust from $23.00 to $26.00 and gave the company a “hold” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $27.83.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC acquired a new position in Chesapeake Lodging Trust in the third quarter valued at approximately $3,589,000. Bank of New York Mellon Corp lifted its holdings in Chesapeake Lodging Trust by 1.2% in the third quarter. Bank of New York Mellon Corp now owns 2,756,845 shares of the real estate investment trust’s stock valued at $74,352,000 after acquiring an additional 33,674 shares during the last quarter. Legal & General Group Plc lifted its holdings in Chesapeake Lodging Trust by 3.5% in the third quarter. Legal & General Group Plc now owns 693,918 shares of the real estate investment trust’s stock valued at $18,715,000 after acquiring an additional 23,220 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Chesapeake Lodging Trust by 25.8% in the third quarter. Macquarie Group Ltd. now owns 22,400 shares of the real estate investment trust’s stock valued at $604,000 after acquiring an additional 4,600 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its holdings in Chesapeake Lodging Trust by 169.1% in the second quarter. Parametric Portfolio Associates LLC now owns 199,917 shares of the real estate investment trust’s stock valued at $4,892,000 after acquiring an additional 125,627 shares during the last quarter. Hedge funds and other institutional investors own 99.47% of the company’s stock.
In other news, Director Jeffrey D. Nuechterlein sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $28.68, for a total value of $172,080.00. Following the completion of the sale, the director now directly owns 19,485 shares in the company, valued at $558,829.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Friday, December 29th were given a $0.40 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.19%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is presently 195.12%.
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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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