Prudential Financial Inc. Has $21.94 Million Holdings in Chesapeake Lodging (CHSP)

Prudential Financial Inc. raised its stake in shares of Chesapeake Lodging (NYSE:CHSP) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 788,878 shares of the real estate investment trust’s stock after purchasing an additional 43,403 shares during the period. Prudential Financial Inc. owned 1.31% of Chesapeake Lodging worth $21,939,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. American Century Companies Inc. bought a new stake in shares of Chesapeake Lodging in the first quarter valued at approximately $4,199,000. Mackay Shields LLC bought a new stake in shares of Chesapeake Lodging in the first quarter valued at approximately $437,000. Westpac Banking Corp boosted its position in shares of Chesapeake Lodging by 72.7% in the first quarter. Westpac Banking Corp now owns 350,928 shares of the real estate investment trust’s stock valued at $9,759,000 after acquiring an additional 147,717 shares during the period. Dupont Capital Management Corp boosted its position in shares of Chesapeake Lodging by 76.0% in the first quarter. Dupont Capital Management Corp now owns 100,031 shares of the real estate investment trust’s stock valued at $2,782,000 after acquiring an additional 43,194 shares during the period. Finally, Elkfork Partners LLC bought a new stake in shares of Chesapeake Lodging in the fourth quarter valued at approximately $191,000. Institutional investors own 99.85% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Robert W. Baird cut Chesapeake Lodging from an “outperform” rating to a “neutral” rating in a research report on Monday, May 14th. Zacks Investment Research raised Chesapeake Lodging from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research report on Wednesday, April 18th. Deutsche Bank increased their price objective on Chesapeake Lodging from $23.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, Janney Montgomery Scott reduced their price objective on Chesapeake Lodging from $32.00 to $26.32 and set a “fair value” rating for the company in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. Chesapeake Lodging has a consensus rating of “Hold” and an average target price of $27.05.

In related news, CEO James L. Francis sold 100,000 shares of the firm’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $30.44, for a total value of $3,044,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO D. Rick Adams sold 75,612 shares of the firm’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $29.79, for a total value of $2,252,481.48. Following the completion of the transaction, the chief operating officer now directly owns 157,500 shares of the company’s stock, valued at $4,691,925. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 225,612 shares of company stock valued at $6,821,981. 2.20% of the stock is owned by company insiders.

Shares of Chesapeake Lodging opened at $30.44 on Friday, MarketBeat.com reports. The firm has a market capitalization of $1.84 billion, a P/E ratio of 13.84, a PEG ratio of 2.54 and a beta of 0.96. Chesapeake Lodging has a one year low of $22.88 and a one year high of $31.48. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.32 and a quick ratio of 1.32.

Chesapeake Lodging (NYSE:CHSP) last issued its earnings results on Tuesday, May 1st. The real estate investment trust reported $0.11 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.30). The firm had revenue of $135.00 million during the quarter, compared to the consensus estimate of $134.60 million. Chesapeake Lodging had a return on equity of 6.97% and a net margin of 12.49%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period last year, the business earned $0.41 earnings per share. sell-side analysts predict that Chesapeake Lodging will post 2.39 earnings per share for the current fiscal year.

About Chesapeake Lodging

Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States.

Want to see what other hedge funds are holding CHSP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chesapeake Lodging (NYSE:CHSP).

Institutional Ownership by Quarter for Chesapeake Lodging (NYSE:CHSP)

Receive News & Ratings for Chesapeake Lodging Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Lodging and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply