Stock Highlights: Chesapeake Lodging Trust (NYSEAQ: CHSP)

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On 21 Jan 19, Chesapeake Lodging Trust (NYSEAQ: CHSP) shares price traded between $26.93 and $27.41 during the last trading session upbeat/downbeat with -0.55% at $27.06. The shares recorded trading volume 243,934 shares as compared to its average volume of 370,427 shares. Over the one year trading period, the stock has a peak price of $33.81 and its down is recorded at $23.68.

Chesapeake Lodging Trust (CHSP) stated recently its financial results for the quarter ended September 30, 2018.

HIGHLIGHTS

  • Comparable RevPAR:0% raise for the 20-hotel portfolio over the same period in 2017.
  • Comparable Adjusted Hotel EBITD AreMargin: 20 basis point raise to 33.4% for the 20-hotel portfolio over the same period in 2017.
  • Adjusted Hotel EBITD Are:$52.4M.
  • Adjusted Corporate EBITD Are:$48.0M.
  • Net income accessible to ordinary shareholders:$53.4M or $0.89 per diluted ordinary share.
  • Adjusted FFO:$38.7M or $0.65 per diluted ordinary share.
  • Disposition:Sold the 200-room Hyatt Centric Santa Barbara for a sale price of $90.0M.

DISPOSITION ACTIVITY

On July 26, 2018, the Trust sold the 200-room Hyatt Centric Santa Barbara located in Santa Barbara, California for a sale price of $90.0M, which resulted in a gain on sale of $33.1M. The Trust purchased the Hyatt Centric Santa Barbara in June 2013 for $61.0M, or about $305,000 per key. In April 2016, the Trust sold a separate five-room villa building and related land parcel at the Hyatt Centric Santa Barbara for $2.1M to an unrelated buyer. The $90.0M sale price, or about $450,000 per key, represented a 5.4% trailing twelve month NOI cap rate (after factoring in a required 2019 renovation estimated at $6.0M, the sale price represented a 5.0% NOI cap rate) and produced a 15.3% unleveraged internal rate of return for the Trust over its ownership period. The net proceeds from the sale of the Hyatt Centric Santa Barbara were used to repay all outstanding borrowings under the Trust’s revolving credit facility.

DIVIDEND

On July 13, 2018, the Trust paid a dividend in the amount of $0.40 per share to its ordinary shareholders of record as of June 29, 2018. On September 10, 2018, the Trust reported a dividend in the amount of $0.40 per share payable to its ordinary shareholders of record as of September 28, 2018. The dividend was paid on October 15, 2018.

EBITD Are — The Trust calculates EBITD Are in accordance with standards established by NAREIT, which defines EBITD Are as net income (calculated in accordance with GAAP) before interest, income taxes, depreciation and amortization, gains (losses) from sales of real estate, impairment charges of depreciated real estate, and adjustments for unconsolidated joint ventures and joint ventures. The Trust believes that EBITD Are provides investors a useful financial measure to evaluate the Trust’s operating performance, not including the impact of the Trust’s capital structure (primarily interest expense) and the Trust’s asset base (primarily depreciation and amortization).

Adjusted Corporate EBITD Are — The Trust further adjusts EBITD Are for certain additional recurring and non-recurring items that are not in NAREIT’s definition of EBITD Are. Specifically, the Trust adjusts for hotel acquisition costs and non-cash amortization of intangible assets and liabilities, deferred franchise costs, and deferred key money, all of which are recurring items. The Trust believes that Adjusted Corporate EBITD Are provides investors another financial measure of its operating performance that provides for greater comparability of its core operating results between periods.

Adjusted Hotel EBITD Are — The Trust further adjusts Adjusted Corporate EBITD Are for corporate general and administrative expenses, which is a recurring item. The Trust believes that Adjusted Hotel EBITD Are provides investors a useful financial measure to evaluate the Trust’s hotel operating performance by not including the impact of corporate-level expenses

Analyst recommendation for this stock stands at 2.60. A look on the firm performance, its monthly performance is -0.29% and a quarterly performance of -8.80%. The stock price is trading downbeat from its 200 days moving average with -10.86% and down from 50 days moving average with -2.03%.

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