Chesapeake Lodging Trust (NYSE:CHSP) announced a quarterly dividend on Wednesday, June 12th, NASDAQ reports. Stockholders of record on Friday, June 28th will be paid a dividend of 0.40 per share by the real estate investment trust on Monday, July 15th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.62%. The ex-dividend date is Thursday, June 27th.
Chesapeake Lodging Trust has raised its dividend payment by an average of 4.6% annually over the last three years. Chesapeake Lodging Trust has a dividend payout ratio of 68.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Chesapeake Lodging Trust to earn $2.49 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 64.3%.
Shares of NYSE CHSP traded up $0.23 during trading hours on Tuesday, reaching $28.45. The stock had a trading volume of 7,194 shares, compared to its average volume of 324,620. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 2.36 and a beta of 1.03. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.55 and a current ratio of 1.55. Chesapeake Lodging Trust has a fifty-two week low of $23.68 and a fifty-two week high of $33.81. The business’s 50-day simple moving average is $29.42.
Chesapeake Lodging Trust (NYSE:CHSP) last released its quarterly earnings results on Monday, May 6th. The real estate investment trust reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.44 by ($0.30). The business had revenue of $133.70 million for the quarter, compared to the consensus estimate of $134.00 million. Chesapeake Lodging Trust had a net margin of 16.56% and a return on equity of 6.25%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm posted $0.43 EPS. Equities analysts anticipate that Chesapeake Lodging Trust will post 2.43 EPS for the current fiscal year.
Several equities analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Chesapeake Lodging Trust from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Wednesday, May 22nd. Robert W. Baird lowered shares of Chesapeake Lodging Trust from an “outperform” rating to a “neutral” rating and set a $31.00 price objective on the stock. in a report on Wednesday, May 8th. Finally, Deutsche Bank restated a “hold” rating and issued a $30.00 price objective on shares of Chesapeake Lodging Trust in a report on Monday, February 25th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $30.60.
About Chesapeake Lodging Trust
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.
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