Equities research analysts predict that Chesapeake Lodging Trust (NYSE:CHSP) will announce sales of $159.45 million for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Chesapeake Lodging Trust’s earnings, with estimates ranging from $157.60 million to $162.12 million. Chesapeake Lodging Trust posted sales of $164.53 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 3.1%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, November 2nd.
On average, analysts expect that Chesapeake Lodging Trust will report full-year sales of $159.45 million for the current financial year, with estimates ranging from $601.74 million to $610.11 million. For the next year, analysts forecast that the business will report sales of $623.27 million per share, with estimates ranging from $618.53 million to $626.69 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Chesapeake Lodging Trust.
Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. Chesapeake Lodging Trust had a return on equity of 5.53% and a net margin of 10.77%. The company had revenue of $162.50 million for the quarter, compared to analysts’ expectations of $161.41 million. During the same period last year, the firm earned $0.75 earnings per share. Chesapeake Lodging Trust’s quarterly revenue was down 4.1% on a year-over-year basis.
CHSP has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Royal Bank Of Canada reissued a “hold” rating and issued a $25.00 price objective on shares of Chesapeake Lodging Trust in a research report on Friday, September 22nd. SunTrust Banks, Inc. reissued a “hold” rating and issued a $23.00 price objective on shares of Chesapeake Lodging Trust in a research report on Tuesday. Robert W. Baird set a $27.00 price objective on shares of Chesapeake Lodging Trust and gave the company a “buy” rating in a research report on Friday, August 25th. Finally, BidaskClub upgraded shares of Chesapeake Lodging Trust from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $26.50.
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Several institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in shares of Chesapeake Lodging Trust by 51.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 105,644 shares of the real estate investment trust’s stock valued at $2,585,000 after purchasing an additional 36,022 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in shares of Chesapeake Lodging Trust in the 2nd quarter valued at about $318,000. State Street Corp raised its stake in shares of Chesapeake Lodging Trust by 2.0% in the 2nd quarter. State Street Corp now owns 2,325,547 shares of the real estate investment trust’s stock valued at $56,906,000 after purchasing an additional 46,045 shares in the last quarter. Flinton Capital Management LLC raised its stake in shares of Chesapeake Lodging Trust by 78.4% in the 2nd quarter. Flinton Capital Management LLC now owns 5,796 shares of the real estate investment trust’s stock valued at $142,000 after purchasing an additional 2,548 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Chesapeake Lodging Trust by 3.2% in the 2nd quarter. Voya Investment Management LLC now owns 67,454 shares of the real estate investment trust’s stock valued at $1,651,000 after purchasing an additional 2,110 shares in the last quarter. Institutional investors and hedge funds own 98.54% of the company’s stock.
Chesapeake Lodging Trust (CHSP) traded up 0.18% during mid-day trading on Thursday, reaching $28.56. The company’s stock had a trading volume of 494,222 shares. The stock’s 50 day moving average price is $26.34 and its 200 day moving average price is $24.81. Chesapeake Lodging Trust has a 1-year low of $20.81 and a 1-year high of $28.65. The stock has a market capitalization of $1.69 billion, a P/E ratio of 29.20 and a beta of 1.11.
The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were paid a $0.40 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.60%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is presently 164.95%.
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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