UPDATE: BMO Capital Markets Initiates Chesapeake Lodging Trust at Outperform on Growth Outlook
BMO Capital Markets initiated coverage on Chesapeake Lodging Trust (NYSE: CHSP) with an Outperform rating and a $25.00 price target.
BMO Capital Markets noted, "Despite its short life as a public company, management has deep roots in the public lodging REIT sector and has smoothly assembled a portfolio of primarily upper-upscale hotels in high-barrier markets. The company acquired $234 million of hotels in 2012 and has another $76 million in the pipeline, increasing the portfolio size and improving liquidity through new equity used for financing the investments. We are initiating with an Outperform rating as we believe CHSP's high-growth portfolio deserves a premium valuation."
Chesapeake Lodging Trust closed at $21.01 on Monday.
Latest Ratings for CHSP
|Aug 2014||FBR Capital||Maintains||Market Perform|
|Aug 2014||JMP Securities||Maintains||Market Outperform|
|Jun 2014||FBR Capital||Downgrades||Outperform||Market Perform|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.