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Thu, Jan. 28, 11:08 AM
- Details aren't known, but the WSJ's sources think a deal could value Chesapeake (CHSP +4.8%) at close to $2B vs. the current $1.4B market cap.
- The company owns 22 higher-end hotels with more than 6.5K rooms, and it would be the latest in a recent line of hotel companies going on the block or already sold.
- After a big run higher, the industry has struggled of late thanks to sluggish economic growth, new room supply, and a strong U.S. dollar crimping foreign visits and spending. CHSP is lower by nearly 40% over the past year.
- Previously: WSJ: Chesapeake Lodging Trust going on the block (Jan. 28)
Thu, Jan. 28, 10:00 AM
- There's more M&A chatter in the brutally punished lodging REIT sector, with the WSJ set to report Chesapeake Lodging Trust (CHSP +9%) is exploring a sale.
- Previously: Chesapeake Lodging guides for Q4 miss, provides 2016 outlook (Jan. 25)
Mon, Jan. 25, 7:49 AM
- Q4 "moderated from early expectations," says Chesapeake Lodging Trust (NYSE:CHSP) CEO James Francis, but he says the company outperformed the competition.
- Q4 and full-year 2015 RevPAR growth of 3.8% and 5.7%, respectively, are just above the low end of previous guidance. Q4 and full-year 2015 AFFO per share will miss guidance. Full results are due on Feb. 18.
- 2016 Q1 and full-year AFFO per share is expected to by $0.37-$0.40 and $2.50-$2.60, respectively. Q1 and full-year RevPAR growth is guided to 6-8% and 5-7%, respectively.
- Source: Press Release
Tue, Jan. 19, 10:16 AM
- Unimpressed 50%+ year-over-year (including nearly 20% just in 2016) declines in Pebblebrook Hotel (PEB -2.8%) and RLJ Lodging (RLJ -3.8%) presents investors with any compelling value, Ladenburg Thalman downgrades the two to Sell from Neutral.
- Update: Also part of the downgrade are Chesapeake Lodging Trust (CHSP -1.9%), Apple Hospitality (APLE -2.1%), and LaSalle Hotel (LHO -2.3%).
- LHO and CHSP have equally ugly price charts, though APLE is about flat since its 2015 IPO.
Wed, Jan. 13, 3:30 PM
- LaSalle Hotel Properties (LHO -7.3%) earlier cut its Q4 guidance, saying the weak RevPAR trends for it and the industry continued into the end of the year. At the moment, 2016 isn't looking so promising either, says the company.
- The broad markets are selling off sharply today, but the REITs not so much, and there are even a couple of pockets of green. Not in the lodging sector though:
- Hospitality Properties (HPT -3.1%), Ashford Hospitality (AHT -6.1%), Sunstone Hotel (SHO -6.3%), Pebblebrook Hotel (PEB -4%), Chesapeake Lodging (CHSP -4.9%), Summit Hotel (INN -5.6%), RLJ Lodging (RLJ -6.3%), Chatham Lodging (CLDT -3.2%), FelCor Lodging (FCH -10.2%), Host Hotels (HST -5.5%), Hersha Hospitality (HT -5.1%), DiamondRock (DRH -7.4%), Apple (APLE -1.6%)
Dec. 17, 2015, 4:32 PM
Nov. 2, 2015, 4:41 PM
- Q3 AFFO of $42.9M or $0.73 per share vs. $32.8M and $0.65 one year ago.
- Pro forma occupancy of 87.9% up 440 basis points Y/Y; pro forma ADR of $237.33 up 1.8%. pro forma RevPAR of $208.58 up 7.2%; pro forma adjusted hotel EBITDA of $58.1M up 9.6%; pro forma adjusted hotel EBITDA margin of 35.2% up 110 basis points.
- Q4 FFO is guided to $0.53-$0.56 per share, with RevPAR growth of 5.5-7.5%. Full-year FFO is expected at $2.22-$2.25, with RevPAR growth of 6.1-6.6%. Company notes more conservative growth expectations for Nov. and Dec. given weaker than hoped business transient demand at hotels in SF and NYC.
- Conference call at 5 ET
- Previously: Chesapeake Lodging Trust FFO in-line, misses on revenue (Nov. 2)
- CHSP flat after hours
Nov. 2, 2015, 4:26 PM
- Chesapeake Lodging Trust (NYSE:CHSP): Q3 FFO of $0.73 in-line.
- Revenue of $165M (+26.1% Y/Y) misses by $0.18M.
Oct. 23, 2015, 11:46 AM
- Pebblebrook Hotel (after warning last month of a soft Q3), cut its outlook for Q4, noting a softening global economy and weaker job growth in the U.S. It's down 8%.
- LaSalle Hotel is in the "penalty box" after waiting until its earnings report to disclose the near-total shutdown of two NYC hotels in response to union issues in San Francisco. That stock is down 8.3%.
- Hospitality Properties (HPT -3.8%), Sunstone Hotels (SHO -3.2%), Chesapeake Lodging (CHSP -3.4%), Summit Hotels (INN -2.8%), RLJ Lodging (RLJ -1.9%), Chatham Lodging (CLDT -2.3%), FelCor Lodging (FCH -6%), Host Hotels (HST -5.5%), Hersha (HT -4.3%), DiamondRock (DRH -3.2%).
- Previously: LaSalle Hotel tumbles as room closures hit results (Oct. 23)
- Previously: Pebblebrook Hotel sinks after cutting Q4 outlook (Oct. 23)
Sep. 18, 2015, 11:08 AM
- The broad market is lower, but the REIT sector (IYR +0.5%) is tacking on to yesterday's post-FOMC gains.
- The lodging names, however, remain under pressure, with Pebblebrook Hotel Trust's (PEB -5%) Monday warning of weak business in August and September apparently still driving the action.
- Hospitality Properties (HPT -1.3%), Sunstone Hotel (SHO -3.9%), LaSalle Hotel (LHO -4%), Chesapeake Lodging (CHSP -2.9%), RLJ Lodging (RLJ -4.7%), FelCor Lodging (FCH -5.5%), Host Hotels (HST -3%), Hersha Hospitality (HT -2.7%), DiamondRock (DRH -3.9%), Apple Hospitality (APLE -2.5%).
Sep. 15, 2015, 12:21 PM
- Pebblebrook Hotel Trust last night said RevPAR this quarter could miss guidance thanks to weaker-than-expected demand in August and September. The stock is lower by 7.2%, and taking most of the rest of the sector along with it.
- Ashford Hospitality (AHT -2.7%), Ashford Hospitality Prime (AHP -1.8%), Sunstone Hotel (SHO -3.3%), LaSalle Hotel (LHO -4%), Chesapeake Lodging (CHSP -3.4%), Summit Hotel (INN -2%), RLJ Lodging (RLJ -3.6%), Chatham Lodging (CLDT -2.2%), FelCor Lodging (FCH -4.1%), Host Hotels (HST -3.7%), DiamondRock (DRH -3.3%), Hersha Hospitality (HT -3.5%).
- Notable outperformers: Hospitality Properties (HPT -0.8%), Strategic Hotels (BEE flat).
Jul. 30, 2015, 4:50 PM
- Q2 adjusted FFO of $39.8M or $0.68 per share vs. $31.2M and $0.64 one year ago.
- RevPAR for the 22-hotel portfolio up 7% Y/Y.
- Adjusted hotel EBITDA of $59.4M vs. $47.1M a year ago. Adjusted hotel EBITDA margin of 36.4% up 140 basis points.
- Quarterly dividend is boosted by 14% to $0.40 per share.
- Full-year AFFO per share guidance of $2.27-$2.35, higher by $0.02 on the low end. Pro forma RevPAR growth of 6.5-8.5%, same as previous.
- Conference call at 5 ET
- Previously: Chesapeake Lodging Trust beats by $0.02, misses on revenue (July 30)
- CHSP flat after hours
Jul. 30, 2015, 4:42 PM
- Chesapeake Lodging Trust (NYSE:CHSP) declares $0.40/share quarterly dividend, 14.3% increase from prior dividend of $0.35.
- Forward yield 5.15%
- Payable Oct. 15; for shareholders of record Sept. 30; ex-div Sept. 28.
Jul. 30, 2015, 4:21 PM
- Chesapeake Lodging Trust (NYSE:CHSP): Q2 FFO of $0.68 beats by $0.02.
- Revenue of $162.1M (+25.8% Y/Y) misses by $1.79M.
May 20, 2015, 2:10 PM
- Chesapeake Lodging Trust (NYSE:CHSP) declares $0.35/share quarterly dividend, in line with previous.
- Forward yield 4.35%
- Payable July 15; for shareholders of record June 30; ex-div June 26.
May 1, 2015, 12:36 PM
- Q1 adjusted FFO of $14.3M or $0.26 per share vs. $12.2M and $0.25 one year ago.
- Occupancy of 71.7% down 300 bps from a year ago. ADR of $213 up 7.2%. RevPAR of $152.80 up 3%.
- Adjusted hotel EBITDA of $29.6M up 2.4%. Adjusted hotel EBITDA margin of 24.7% down 20 bps.
- Management takes note to the impact on Q1 and early Q2 results from renovations at three hotels in San Francisco and Boston.
- 2015 guidance: AFFO per share of $0.63-$0.67. For the 22-hotel portfolio, RevPAR growth of 5.5-7.5%, with hotel EBITDA margins up 40-90 bps.
- Previously: Chesapeake Lodging Trust beats by $0.02, beats on revenue (April 30)
- CHSP -1.25%
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