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.
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.
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