Chesapeake Lodging Trust Declares Quarterly Dividend of $0.40 (CHSP)
Chesapeake Lodging Trust (NYSE:CHSP) announced a quarterly dividend on Thursday, May 18th. Stockholders of record on Friday, June 30th will be given a dividend of 0.40 per share by the real estate investment trust on Friday, July 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date is Wednesday, June 28th.
Chesapeake Lodging Trust has raised its dividend payment by an average of 18.6% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Chesapeake Lodging Trust has a dividend payout ratio of 74.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Chesapeake Lodging Trust to earn $1.07 per share next year, which means the company may not be able to cover its $1.60 annual dividend with an expected future payout ratio of 149.5%.
Chesapeake Lodging Trust (NYSE:CHSP) traded up 1.50% during mid-day trading on Thursday, hitting $23.02. The stock had a trading volume of 236,305 shares. The firm’s 50-day moving average is $23.67 and its 200 day moving average is $24.34. The stock has a market cap of $1.36 billion, a PE ratio of 21.16 and a beta of 1.04. Chesapeake Lodging Trust has a one year low of $20.81 and a one year high of $27.08.
Chesapeake Lodging Trust (NYSE:CHSP) last issued its earnings results on Tuesday, April 25th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.05. The company had revenue of $134.90 million during the quarter, compared to analyst estimates of $132.06 million. Chesapeake Lodging Trust had a net margin of 12.77% and a return on equity of 6.60%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.44 EPS. Equities research analysts expect that Chesapeake Lodging Trust will post $0.79 EPS for the current year.
In other Chesapeake Lodging Trust news, Director Thomas D. Eckert sold 16,000 shares of Chesapeake Lodging Trust stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $24.36, for a total transaction of $389,760.00. Following the completion of the sale, the director now owns 34,178 shares of the company’s stock, valued at approximately $832,576.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.20% of the company’s stock.
A hedge fund recently raised its stake in Chesapeake Lodging Trust stock. Dimensional Fund Advisors LP raised its stake in shares of Chesapeake Lodging Trust (NYSE:CHSP) by 6.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 859,198 shares of the real estate investment trust’s stock after buying an additional 52,957 shares during the period. Dimensional Fund Advisors LP owned about 1.46% of Chesapeake Lodging Trust worth $20,586,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 96.22% of the company’s stock.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a research note on Tuesday, March 7th. Janney Montgomery Scott reissued a “neutral” rating and set a $24.00 target price on shares of Chesapeake Lodging Trust in a research note on Thursday, February 23rd.
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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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