Wall Street brokerages predict that Chesapeake Lodging Trust (NYSE:CHSP) will announce $165.39 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Chesapeake Lodging Trust’s earnings, with the lowest sales estimate coming in at $163.20 million and the highest estimate coming in at $168.52 million. Chesapeake Lodging Trust reported sales of $162.46 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.8%. The firm is expected to report its next earnings results before the market opens on Friday, July 27th.
According to Zacks, analysts expect that Chesapeake Lodging Trust will report full-year sales of $611.16 million for the current fiscal year, with estimates ranging from $608.14 million to $614.86 million. For the next year, analysts forecast that the firm will report sales of $631.45 million per share, with estimates ranging from $625.82 million to $640.26 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Chesapeake Lodging Trust.
Chesapeake Lodging Trust (NYSE:CHSP) last issued 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). The business had revenue of $135.00 million during the quarter, compared to analyst estimates of $134.60 million. Chesapeake Lodging Trust had a net margin of 12.49% and a return on equity of 6.97%. Chesapeake Lodging Trust’s revenue was up .1% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 earnings per share.
Several research firms have issued reports on CHSP. Zacks Investment Research raised shares of Chesapeake Lodging Trust from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Monday, June 4th. Robert W. Baird cut shares of Chesapeake Lodging Trust from an “outperform” rating to a “neutral” rating in a research note on Monday, May 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $27.55.
In other news, COO D. Rick Adams sold 75,612 shares of the stock in a transaction dated Wednesday, May 2nd. The shares were sold at an average price of $29.79, for a total transaction of $2,252,481.48. Following the transaction, the chief operating officer now directly owns 157,500 shares in the company, valued at approximately $4,691,925. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Graham J. Wootten sold 50,000 shares of the stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $30.51, for a total transaction of $1,525,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,612 shares of company stock worth $6,821,981. Insiders own 2.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in CHSP. Centersquare Investment Management LLC purchased a new position in shares of Chesapeake Lodging Trust during the 1st quarter worth about $48,874,000. AMP Capital Investors Ltd raised its holdings in Chesapeake Lodging Trust by 707.5% in the fourth quarter. AMP Capital Investors Ltd now owns 1,583,954 shares of the real estate investment trust’s stock valued at $42,909,000 after buying an additional 1,387,804 shares during the period. Heitman Real Estate Securities LLC raised its holdings in Chesapeake Lodging Trust by 166.3% in the first quarter. Heitman Real Estate Securities LLC now owns 1,085,946 shares of the real estate investment trust’s stock valued at $33,344,000 after buying an additional 678,135 shares during the period. Matarin Capital Management LLC purchased a new position in Chesapeake Lodging Trust in the first quarter valued at approximately $14,338,000. Finally, BlackRock Inc. raised its holdings in Chesapeake Lodging Trust by 3.7% in the fourth quarter. BlackRock Inc. now owns 9,107,523 shares of the real estate investment trust’s stock valued at $246,723,000 after buying an additional 327,720 shares during the period. Institutional investors and hedge funds own 96.37% of the company’s stock.
Chesapeake Lodging Trust traded down $0.12, reaching $32.27, during trading hours on Monday, according to Marketbeat. The company’s stock had a trading volume of 7,370 shares, compared to its average volume of 321,982. Chesapeake Lodging Trust has a fifty-two week low of $24.08 and a fifty-two week high of $32.84. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 2.71 and a beta of 0.98. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.80.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 29th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.60 annualized dividend and a dividend yield of 4.96%. Chesapeake Lodging Trust’s payout ratio is currently 73.73%.
About Chesapeake Lodging Trust
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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