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 increased its dividend every year for the last 5 years. Chesapeake Lodging Trust has a payout ratio of 74.1% meaning its dividend is sufficiently covered by earnings. Equities 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 0.43% during mid-day trading on Friday, hitting $23.12. 20,644 shares of the stock were exchanged. The firm has a 50-day moving average price of $23.66 and a 200-day moving average price of $24.33. The stock has a market capitalization of $1.36 billion, a P/E ratio of 21.25 and a beta of 1.04. Chesapeake Lodging Trust has a 12-month low of $20.81 and a 12-month high of $27.08.
Chesapeake Lodging Trust (NYSE:CHSP) last released its quarterly earnings data on Tuesday, April 25th. The real estate investment trust reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Chesapeake Lodging Trust had a return on equity of 6.60% and a net margin of 12.77%. The business had revenue of $134.90 million for the quarter, compared to analysts’ expectations of $132.06 million. During the same quarter in the previous year, the business posted $0.44 EPS. Chesapeake Lodging Trust’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities analysts predict that Chesapeake Lodging Trust will post $0.79 earnings per share for the current fiscal year.
In other Chesapeake Lodging Trust news, Director Thomas D. Eckert sold 16,000 shares of the business’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $24.36, for a total value of $389,760.00. Following the sale, the director now owns 34,178 shares in the company, valued at approximately $832,576.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.20% of the company’s stock.
A hedge fund recently raised its stake in Chesapeake Lodging Trust stock. Teachers Advisors LLC raised its position in Chesapeake Lodging Trust (NYSE:CHSP) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,393 shares of the real estate investment trust’s stock after buying an additional 2,480 shares during the period. Teachers Advisors LLC owned about 0.18% of Chesapeake Lodging Trust worth $2,477,000 as of its most recent filing with the SEC. Institutional investors own 96.22% of the company’s stock.
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Several equities analysts have recently weighed in on the company. Zacks Investment Research cut Chesapeake Lodging Trust from a “buy” rating to a “hold” rating in a report on Friday, February 24th. Janney Montgomery Scott reiterated a “neutral” rating and set a $24.00 price objective on shares of Chesapeake Lodging Trust in a report on Thursday, February 23rd.
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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