Chesapeake Lodging Trust (NYSE:CHSP) announced a quarterly dividend on Tuesday, June 12th, Zacks reports. Shareholders of record on Friday, June 29th will be paid a dividend of 0.40 per share by the real estate investment trust on Friday, July 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Thursday, June 28th.
Chesapeake Lodging Trust has raised its dividend by an average of 11.3% annually over the last three years. Chesapeake Lodging Trust has a payout ratio of 73.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Chesapeake Lodging Trust to earn $2.57 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 62.3%.
Shares of CHSP stock traded down $0.02 during mid-day trading on Wednesday, reaching $32.12. The stock had a trading volume of 300 shares, compared to its average volume of 328,056. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.80. Chesapeake Lodging Trust has a one year low of $24.08 and a one year high of $32.84. The company has a market capitalization of $1.94 billion, a P/E ratio of 14.81, a P/E/G ratio of 2.69 and a beta of 1.00.
Chesapeake Lodging Trust (NYSE:CHSP) last announced its quarterly earnings data on Tuesday, May 1st. The real estate investment trust reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.30). Chesapeake Lodging Trust had a return on equity of 6.97% and a net margin of 12.49%. The firm had revenue of $135.00 million during the quarter, compared to the consensus estimate of $134.60 million. During the same quarter in the prior year, the business posted $0.41 EPS. Chesapeake Lodging Trust’s revenue was up .1% compared to the same quarter last year. sell-side analysts predict that Chesapeake Lodging Trust will post 2.39 earnings per share for the current fiscal year.
A number of brokerages have commented on CHSP. Zacks Investment Research upgraded Chesapeake Lodging Trust from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Monday, June 4th. Robert W. Baird downgraded Chesapeake Lodging Trust from an “outperform” rating to a “neutral” rating in a research report on Monday, May 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $27.55.
In related news, COO D. Rick Adams sold 75,612 shares of the firm’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $29.79, for a total transaction of $2,252,481.48. Following the completion of the transaction, the chief operating officer now owns 157,500 shares in the company, valued at approximately $4,691,925. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Graham J. Wootten sold 50,000 shares of the firm’s stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $30.51, for a total value of $1,525,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 225,612 shares of company stock valued at $6,821,981 in the last 90 days. 2.60% of the stock is owned by corporate insiders.
Chesapeake Lodging Trust Company Profile
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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