Fri, Sep. 18, 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%).
Tue, Sep. 15, 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).
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%
Tue, Mar. 24, 7:54 AM
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)
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%).
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
Nov. 8, 2011, 1:19 PM
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