Chesapeake Lodging Trust (CHSP) Announces $0.40 Quarterly Dividend
Chesapeake Lodging Trust (NYSE:CHSP) announced a quarterly dividend on Tuesday, September 19th, Wall Street Journal reports. Stockholders of record on Friday, September 29th will be paid a dividend of 0.40 per share by the real estate investment trust on Friday, October 13th. This represents a $1.60 annualized dividend and a dividend yield of 6.30%. The ex-dividend date of this dividend is Thursday, September 28th.
Chesapeake Lodging Trust has increased its dividend payment by an average of 18.6% annually over the last three years and has increased its dividend every year for the last 5 years. Chesapeake Lodging Trust has a payout ratio of 72.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Chesapeake Lodging Trust to earn $2.41 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 66.4%.
Shares of Chesapeake Lodging Trust (NYSE:CHSP) opened at 25.38 on Wednesday. Chesapeake Lodging Trust has a one year low of $20.81 and a one year high of $27.08. The company has a market cap of $1.50 billion, a PE ratio of 25.95 and a beta of 1.11. The stock’s 50 day moving average price is $25.24 and its 200 day moving average price is $24.34.
Chesapeake Lodging Trust (NYSE:CHSP) last issued its quarterly earnings results on Wednesday, August 2nd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analyst estimates of $161.41 million. During the same quarter last year, the company posted $0.75 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities analysts predict that Chesapeake Lodging Trust will post $0.82 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Chesapeake Lodging Trust from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research report on Tuesday. Royal Bank Of Canada restated a “hold” rating and set a $25.00 price objective on shares of Chesapeake Lodging Trust in a research report on Friday, August 4th. BidaskClub upgraded Chesapeake Lodging Trust from a “hold” rating to a “buy” rating in a research report on Wednesday, August 2nd. Robert W. Baird set a $27.00 price objective on Chesapeake Lodging Trust and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, TheStreet upgraded Chesapeake Lodging Trust from a “c+” rating to a “b” rating in a research report on Friday, August 4th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $25.60.
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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