Chesapeake Lodging Trust (CHSP) To Go Ex-Dividend on September 28th
Chesapeake Lodging Trust (NYSE:CHSP) declared a quarterly dividend on Tuesday, September 19th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 6.15%. The ex-dividend date of this dividend is Thursday, September 28th.
Chesapeake Lodging Trust has increased its dividend by an average of 18.6% annually over the last three years and has raised its dividend every year for the last 5 years. Chesapeake Lodging Trust has a dividend payout ratio of 72.1% meaning 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 (CHSP) traded up 0.85% during trading on Friday, reaching $26.00. 205,302 shares of the company were exchanged. The firm has a 50-day moving average price of $25.24 and a 200-day moving average price of $24.34. Chesapeake Lodging Trust has a 1-year low of $20.81 and a 1-year high of $27.08. The stock has a market capitalization of $1.54 billion, a P/E ratio of 26.58 and a beta of 1.11.
Chesapeake Lodging Trust (NYSE:CHSP) last announced its quarterly earnings data on Wednesday, August 2nd. The real estate investment trust reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. Chesapeake Lodging Trust had a net margin of 10.77% and a return on equity of 5.53%. The business had revenue of $162.50 million for the quarter, compared to analyst estimates of $161.41 million. During the same period last year, the business earned $0.75 EPS. The company’s revenue was down 4.1% on a year-over-year basis. Equities research analysts predict that Chesapeake Lodging Trust will post $0.82 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on CHSP shares. Zacks Investment Research upgraded shares of Chesapeake Lodging Trust from a “sell” rating to a “hold” rating in a report on Friday, August 4th. TheStreet lowered shares of Chesapeake Lodging Trust from a “b-” rating to a “c+” rating in a report on Tuesday, May 30th. Royal Bank Of Canada restated a “hold” rating and issued a $25.00 price objective on shares of Chesapeake Lodging Trust in a report on Friday. Robert W. Baird reiterated an “outperform” rating and set a $27.00 price target (up from $26.00) on shares of Chesapeake Lodging Trust in a research note on Friday, June 16th. Finally, BidaskClub upgraded shares of Chesapeake Lodging Trust from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $25.60.
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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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