Chesapeake Lodging Trust (NYSE:CHSP) Updates FY17 Earnings Guidance
Chesapeake Lodging Trust (NYSE:CHSP) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.16-2.24 for the period, compared to the Thomson Reuters consensus estimate of $2.17. Chesapeake Lodging Trust also updated its Q3 guidance to $0.62-0.66 EPS.
Shares of Chesapeake Lodging Trust (NYSE:CHSP) traded down 0.61% during mid-day trading on Friday, hitting $24.52. 287,213 shares of the company’s stock traded hands. Chesapeake Lodging Trust has a 52 week low of $20.81 and a 52 week high of $27.08. The firm has a 50-day moving average of $24.92 and a 200 day moving average of $24.36. The company has a market cap of $1.45 billion, a PE ratio of 25.07 and a beta of 1.13.
Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $162.50 million for the quarter, compared to the consensus estimate of $161.41 million. Chesapeake Lodging Trust had a net margin of 13.33% and a return on equity of 6.56%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. Equities research analysts predict that Chesapeake Lodging Trust will post $0.77 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 6.53%. The ex-dividend date of this dividend was Wednesday, June 28th. Chesapeake Lodging Trust’s dividend payout ratio is currently 164.95%.
Several equities research analysts have recently issued reports on the stock. TheStreet upgraded shares of Chesapeake Lodging Trust from a c+ rating to a b rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Chesapeake Lodging Trust from a sell rating to a hold rating in a research report on Friday, August 4th. Deutsche Bank AG restated a hold rating and issued a $22.00 price target (up previously from $21.00) on shares of Chesapeake Lodging Trust in a research report on Tuesday, July 18th. Robert W. Baird restated an outperform rating and issued a $27.00 price target (up previously from $26.00) on shares of Chesapeake Lodging Trust in a research report on Friday, June 16th. Finally, BidaskClub upgraded shares of Chesapeake Lodging Trust from a hold rating to a buy rating in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $25.20.
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About Chesapeake Lodging Trust
Chesapeake Lodging Trust is a real estate investment trust. The Company is focused on investments primarily in upper-upscale hotels in various business and convention markets and, on a selective basis, select-service hotels in urban settings or other locations in the United States. The Company operates through the hotel ownership segment.
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