Brokerages expect that Chesapeake Lodging Trust (NYSE:CHSP) will report $141.10 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Chesapeake Lodging Trust’s earnings, with the lowest sales estimate coming in at $138.04 million and the highest estimate coming in at $144.06 million. Chesapeake Lodging Trust reported sales of $142.66 million during the same quarter last year, which would indicate a negative year over year growth rate of 1.1%. The business is expected to announce its next earnings report on Thursday, February 21st.
According to Zacks, analysts expect that Chesapeake Lodging Trust will report full-year sales of $595.91 million for the current year, with estimates ranging from $592.70 million to $599.66 million. For the next financial year, analysts anticipate that the firm will report sales of $609.65 million, with estimates ranging from $603.03 million to $619.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Chesapeake Lodging Trust.
Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.32). The business had revenue of $156.35 million during the quarter, compared to analysts’ expectations of $157.13 million. Chesapeake Lodging Trust had a net margin of 18.64% and a return on equity of 7.47%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.64 earnings per share.
Shares of Chesapeake Lodging Trust stock traded down $0.33 on Wednesday, reaching $29.68. The company’s stock had a trading volume of 220,576 shares, compared to its average volume of 322,923. The stock has a market capitalization of $1.80 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 2.60 and a beta of 0.95. Chesapeake Lodging Trust has a 52-week low of $24.98 and a 52-week high of $33.81. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.75 and a quick ratio of 1.75.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.39%. The ex-dividend date was Thursday, September 27th. Chesapeake Lodging Trust’s payout ratio is 73.73%.
In related news, Director Jeffrey D. Nuechterlein sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $29.74, for a total transaction of $89,220.00. Following the completion of the sale, the director now directly owns 14,154 shares in the company, valued at $420,939.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Chesapeake Lodging Trust by 3.3% during the third quarter. BlackRock Inc. now owns 10,239,346 shares of the real estate investment trust’s stock worth $328,375,000 after purchasing an additional 327,252 shares in the last quarter. Northern Trust Corp boosted its stake in Chesapeake Lodging Trust by 2.4% during the second quarter. Northern Trust Corp now owns 2,540,438 shares of the real estate investment trust’s stock worth $80,379,000 after buying an additional 60,557 shares during the last quarter. Morgan Stanley boosted its stake in Chesapeake Lodging Trust by 53.1% during the second quarter. Morgan Stanley now owns 2,371,712 shares of the real estate investment trust’s stock worth $75,041,000 after buying an additional 822,403 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Chesapeake Lodging Trust by 311.7% during the third quarter. JPMorgan Chase & Co. now owns 1,681,624 shares of the real estate investment trust’s stock worth $53,930,000 after buying an additional 1,273,152 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Chesapeake Lodging Trust by 2.8% during the third quarter. Bank of New York Mellon Corp now owns 1,025,631 shares of the real estate investment trust’s stock worth $32,893,000 after buying an additional 28,245 shares during the last quarter. Hedge funds and other institutional investors own 98.86% of the company’s stock.
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. The Trust owns 20 hotels with an aggregate of 6,279 rooms in eight states and the District of Columbia.
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