Seeking Alpha

Chesapeake Lodging Trust (CHSP)

  • Fri, May 1, 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%
    | Comment!
  • Tue, Mar. 24, 7:54 AM
    • The offering size of 4M shares was upsized from 3M. Gross proceeds of about $136M suggests a price of about $34 per share. The underwriter greenshoe is for another 600K shares.
    • Source: Press Release
    • CHSP -1.5% to $34 premarket.
    | Comment!
  • Tue, Jan. 6, 2:30 PM
    • Equity REIT names are higher nearly across the board as the 10-year Treasury yield tumbles below 2%, but the hotel REITs aren't joining in the fun, suggesting maybe plunging oil prices (now at $47.76 per barrel) are foreshadowing a weak economy?
    • Ashford Hospitality (AHT -1.9%), Strategic Hotels (BEE -1.3%), LaSalle Hotel (LHO -0.9%), Chesapeake Lodging (CHSP -1.7%), Summit Hotel (INN -1.2%).
    • Previously: Equity REITs add to gains as long-term yields dive (Jan. 6)
    | Comment!
  • Oct. 20, 2014, 10:01 AM
    • Stifel steps into the Ebola-related downdraft in the lodging sector, upgrading the largest (by market cap) such REIT, Hospitality Property Trust (HPT +2.1%) to Buy with $30 price target.
    • Other names: Ashford (AHT +1.2%), Strategic Hotels (BEE +0.8%), Sunstone Hotel (SHO +1.1%), LaSalle Hotel (LHO +0.6%), Chesapeake Lodging (CHSP +0.6%), Summit Hotel (INN +1.2%), Pebblebrook Hotel (PEB +0.7%).
    | Comment!
  • Sep. 4, 2014, 12:11 PM
    • Chesapeake Lodging Trust (CHSP -1.6%) sold 4.2M shares for gross proceeds of about $126M ($30 each). The underwriter greenshoe is for another 630K shares.
    • The proceeds, combined with the cash from the pending sale of the 153-room Courtyard Anaheim at Disneyland (if completed), will towards the purchase of the 337-room JW Marriott San Francisco Union Square.
    • Source: Press Release
    | Comment!
  • Nov. 8, 2011, 1:19 PM
    Chesapeake Lodging (CHSP +1.2%) trades higher after Deutsche ups the shares to Buy from Hold on valuation, citing the company's high occupancy rates and high RevPar growth potential.
    | Comment!
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Company Description
Chesapeake Lodging Trust is a self-advised real estate investment trust. The Company invests in upper-upscale hotels in business and convention markets and select-service hotels in urban settings in USA.
Sector: Financial
Country: United States