Zacks: Brokerages Expect Chesapeake Lodging Trust (CHSP) Will Post Quarterly Sales of $143.43 Million

Brokerages expect that Chesapeake Lodging Trust (NYSE:CHSP) will report $143.43 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Chesapeake Lodging Trust’s earnings, with estimates ranging from $140.80 million to $146.89 million. Chesapeake Lodging Trust reported sales of $145.13 million in the same quarter last year, which indicates a negative year-over-year growth rate of 1.2%. The firm is expected to report its next quarterly earnings report on Wednesday, February 28th.

On average, analysts expect that Chesapeake Lodging Trust will report full-year sales of $143.43 million for the current fiscal year, with estimates ranging from $596.50 million to $602.50 million. For the next year, analysts anticipate that the business will post sales of $606.47 million per share, with estimates ranging from $600.35 million to $613.73 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Chesapeake Lodging Trust.

Chesapeake Lodging Trust (NYSE:CHSP) last posted its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by ($0.01). Chesapeake Lodging Trust had a net margin of 9.71% and a return on equity of 5.11%. The firm had revenue of $158.28 million for the quarter, compared to the consensus estimate of $159.18 million. During the same quarter in the prior year, the company earned $0.71 earnings per share. The company’s quarterly revenue was down 3.8% compared to the same quarter last year.

Several research analysts have commented on the stock. Robert W. Baird set a $30.00 price objective on shares of Chesapeake Lodging Trust and gave the stock a “buy” rating in a report on Friday, December 1st. SunTrust Banks restated a “hold” rating and issued a $23.00 price objective on shares of Chesapeake Lodging Trust in a report on Tuesday, October 17th. JPMorgan Chase & Co. lowered shares of Chesapeake Lodging Trust from a “neutral” rating to an “underweight” rating in a report on Thursday, November 16th. Zacks Investment Research lowered shares of Chesapeake Lodging Trust from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Finally, BidaskClub upgraded shares of Chesapeake Lodging Trust from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.17.

In related news, Director Jeffrey D. Nuechterlein sold 6,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $28.68, for a total value of $172,080.00. Following the completion of the transaction, the director now directly owns 19,485 shares in the company, valued at approximately $558,829.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Chicago Equity Partners LLC purchased a new stake in Chesapeake Lodging Trust during the 3rd quarter valued at about $3,589,000. Bank of New York Mellon Corp grew its position in Chesapeake Lodging Trust by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,756,845 shares of the real estate investment trust’s stock valued at $74,352,000 after purchasing an additional 33,674 shares during the last quarter. Legal & General Group Plc grew its position in Chesapeake Lodging Trust by 3.5% during the 3rd quarter. Legal & General Group Plc now owns 693,918 shares of the real estate investment trust’s stock valued at $18,715,000 after purchasing an additional 23,220 shares during the last quarter. Graybill Bartz & Assoc Ltd. grew its position in Chesapeake Lodging Trust by 1.7% during the 3rd quarter. Graybill Bartz & Assoc Ltd. now owns 147,524 shares of the real estate investment trust’s stock valued at $3,979,000 after purchasing an additional 2,445 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in Chesapeake Lodging Trust by 169.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 199,917 shares of the real estate investment trust’s stock valued at $4,892,000 after purchasing an additional 125,627 shares during the last quarter. Institutional investors own 99.83% of the company’s stock.

Chesapeake Lodging Trust (CHSP) traded up $0.29 during trading hours on Friday, reaching $27.49. 166,800 shares of the company were exchanged, compared to its average volume of 247,300. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.84. Chesapeake Lodging Trust has a 52 week low of $22.55 and a 52 week high of $29.36. The company has a market cap of $1,650.00, a price-to-earnings ratio of 33.52, a P/E/G ratio of 2.27 and a beta of 1.10.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 29th will be paid a $0.40 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.60 annualized dividend and a dividend yield of 5.82%. Chesapeake Lodging Trust’s payout ratio is 195.12%.

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Chesapeake Lodging Trust Company Profile

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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