Zacks: Analysts Anticipate Chesapeake Lodging Trust (CHSP) Will Post Quarterly Sales of $133.95 Million
Equities analysts forecast that Chesapeake Lodging Trust (NYSE:CHSP) will announce $133.95 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Chesapeake Lodging Trust’s earnings, with the lowest sales estimate coming in at $128.74 million and the highest estimate coming in at $138.03 million. Chesapeake Lodging Trust posted sales of $135.03 million during the same quarter last year, which would indicate a negative year over year growth rate of 0.8%. The business is expected to report its next earnings report on Tuesday, May 7th.
On average, analysts expect that Chesapeake Lodging Trust will report full year sales of $608.40 million for the current financial year, with estimates ranging from $601.78 million to $617.80 million. For the next year, analysts forecast that the business will post sales of $623.41 million, with estimates ranging from $617.79 million to $628.41 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Chesapeake Lodging Trust.
Chesapeake Lodging Trust (NYSE:CHSP) last posted its earnings results on Thursday, February 21st. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Chesapeake Lodging Trust had a return on equity of 6.09% and a net margin of 16.24%. The business had revenue of $142.50 million during the quarter, compared to analyst estimates of $140.58 million. During the same quarter last year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year.
In other Chesapeake Lodging Trust news, Director Jeffrey D. Nuechterlein acquired 1,500 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were acquired at an average cost of $30.11 per share, for a total transaction of $45,165.00. Following the completion of the purchase, the director now owns 14,654 shares of the company’s stock, valued at approximately $441,231.94. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of Chesapeake Lodging Trust by 311.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,681,624 shares of the real estate investment trust’s stock worth $53,930,000 after purchasing an additional 1,273,152 shares during the period. Jennison Associates LLC acquired a new position in Chesapeake Lodging Trust during the third quarter worth $397,000. AXA grew its holdings in Chesapeake Lodging Trust by 5.0% during the third quarter. AXA now owns 97,300 shares of the real estate investment trust’s stock worth $3,120,000 after acquiring an additional 4,600 shares during the period. Bank of New York Mellon Corp grew its holdings in Chesapeake Lodging Trust by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 1,025,631 shares of the real estate investment trust’s stock valued at $32,893,000 after purchasing an additional 28,245 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in Chesapeake Lodging Trust by 3.3% in the third quarter. BlackRock Inc. now owns 10,239,346 shares of the real estate investment trust’s stock valued at $328,375,000 after purchasing an additional 327,252 shares during the last quarter. 99.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE CHSP traded down $0.22 during mid-day trading on Monday, hitting $28.16. The company had a trading volume of 4,131 shares, compared to its average volume of 394,501. The company has a current ratio of 1.67, a quick ratio of 1.67 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 2.33 and a beta of 1.17. Chesapeake Lodging Trust has a 12 month low of $23.68 and a 12 month high of $33.81.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.68%. Chesapeake Lodging Trust’s dividend payout ratio is currently 68.38%.
Chesapeake Lodging Trust Company Profile
Chesapeake Lodging Trust is a self-advised lodging real estate investment trust (REIT) focused on investments primarily in upper-upscale hotels in major business and convention markets and, on a selective basis, premium select-service hotels in urban settings or unique locations in the United States.
Further Reading: Strangles
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Chesapeake Lodging Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Chesapeake Lodging Trust and related companies with MarketBeat.com's FREE daily email newsletter.