Chesapeake Lodging Trust (CHSP) Announces Quarterly Earnings Results
Chesapeake Lodging Trust (NYSE:CHSP) posted its quarterly earnings data on Thursday. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.01), Bloomberg Earnings reports. The company had revenue of $158.28 million for the quarter, compared to analyst estimates of $159.18 million. Chesapeake Lodging Trust had a return on equity of 5.53% and a net margin of 10.77%. Chesapeake Lodging Trust’s quarterly revenue was down 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 EPS. Chesapeake Lodging Trust updated its Q4 guidance to $0.47-0.51 EPS.
The firm 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 5.67%. Chesapeake Lodging Trust’s dividend payout ratio (DPR) is presently 164.95%.
A number of equities analysts have recently weighed in on CHSP shares. Zacks Investment Research upgraded Chesapeake Lodging Trust from a “hold” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a report on Tuesday, September 19th. TheStreet upgraded Chesapeake Lodging Trust from a “c+” rating to a “b” rating in a report on Friday, August 4th. Janney Montgomery Scott upgraded Chesapeake Lodging Trust from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $32.00 in a report on Wednesday, September 27th. KeyCorp restated a “hold” rating on shares of Chesapeake Lodging Trust in a report on Sunday, September 24th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $22.00 price objective (up previously from $21.00) on shares of Chesapeake Lodging Trust in a report on Tuesday, July 18th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $26.67.
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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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