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July 28, 2015 3:07 AM ET

Real Estate Investment Trusts (REITs)

Company Overview of Chesapeake Lodging Trust

Company Overview

Chesapeake Lodging Trust is an equity real estate investment trust. The firm invests in the real estate markets of the United States. It primarily invests 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. The firm was formerly known as Crown Hospitality Trust. Chesapeake Lodging Trust was founded in June 2009 and is based in Annapolis, Maryland.

1997 Annapolis Exchange Parkway

Suite 410

Annapolis, MD 21401

United States

Founded in 2009

13 Employees

Phone:

410-972-4140

Key Executives for Chesapeake Lodging Trust

Chief Executive Officer, President and Trustee
Age: 53
Total Annual Compensation: $1.1M
Chief Financial Officer, Executive Vice President and Trustee
Age: 56
Total Annual Compensation: $617.5K
Chief Operating Officer and Executive Vice President
Age: 51
Total Annual Compensation: $520.0K
Chief Accounting Officer, Senior Vice President and Secretary
Age: 42
Total Annual Compensation: $378.0K
Compensation as of Fiscal Year 2014.

Chesapeake Lodging Trust Key Developments

Chesapeake Lodging Trust Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-09-2015

Chesapeake Lodging Trust Presents at REITWEEK 2015: NAREIT's Investor Forum, Jun-09-2015 . Venue: New York Hilton Midtown, 1335 Avenue of the Americas, New York, NY 10019, United States.

Chesapeake Lodging Trust Declares Dividends on Common Share and Preferred Shares for the Second Quarter, Payable on July 15, 2015

Chesapeake Lodging Trust announced that its board of trustees has declared a quarterly dividend payment of $0.35 per common share. The dividend will be paid on July 15, 2015 to shareholders of record at the close of business on June 30, 2015. The dividend represents a 4.3% annualized yield based on the closing price of the Trust’s common shares on May 19, 2015. The Trust also announced that its board of trustees has declared a quarterly dividend payment of $0.484375 per share of the Trust’s 7.75% Series A Cumulative Redeemable Preferred Shares. The dividend will be paid on July 15, 2015 to shareholders of record at the close of business on June 30, 2015.

Chesapeake Lodging Trust Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter Ending June 30, 2015 and Full Year Ending December 31, 2015

Chesapeake Lodging Trust announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $109,290,000 against $94,774,000 a year ago. Operating income was $5,383,000 against $5,467,000 a year ago. Loss before income taxes was $1,796,000 against $1,219,000 a year ago. Net loss available to common shareholders was $870,000 or $0.02 basic and diluted per share against $244,000 or $0.01 basic and diluted per share a year ago. Net cash provided by operating activities was $6,504,000 against $10,367,000 a year ago. Improvements and additions to hotels was $12,917,000 against $21,648,000 a year ago. Hotel EBITDA was $25,386,000 against $22,015,000 a year ago. Adjusted Hotel EBITDA was $25,305,000 against $21,940,000 a year ago. Corporate EBITDA was $20,310,000 against $17,965,000 a year ago. Adjusted Corporate EBITDA was $20,728,000 against $18,020,000 a year ago. FFO available to common shareholders was $13,920,000 or $0.26 basic and diluted per share against $12,125,000 or $0.25 basic and diluted per share a year ago. AFFO available to common shareholders was $14,338,000 or $0.26 basic and diluted per share against $12,180,000 or $0.25 basic and diluted per share a year ago. The company provided earnings guidance for the second quarter ending June 30, 2015 and full year ending December 31, 2015. For the year, the company expects total revenue in the range of $162,070,000 to $165,630,000, Hotel EBITDA in the range of $57,430,000 to $59,530,000, adjusted Hotel EBITDA in the range of $57,350,000 to $59,450,000, net income in the range of $22,680,000 to $24,480,000, depreciation and amortization of $16,840,000, interest expense of $8,260,000, corporate EBITDA in the range of $52,030,000 to $54,030,000, adjusted Corporate EBITDA in the range of $52,520,000 to $54,520,000, FFO in the range of $39,520,000 to $41,320,000, FFO available to common shareholders in the range of $36,960,000 to $38,760,000, AFFO available to common shareholders in the range of $37,450,000 to $39,250,000, FFO basic and diluted per common share in the range of $0.63 to $0.66 and AFFO diluted per common share in the range of $0.64 to $0.67. For the year, the company expects, total revenue in the range of $609,700,000 to $621,000,000, Hotel EBITDA in the range of $199,570,000 to $206,320, Adjusted Hotel EBITDA in the range of $199,250,000 to $206,000,000, net income in the range of $73,400,000 to $79,150,000, depreciation and amortization of $66,100,000, interest expense of $32,190,000, corporate EBITDA in the range of $173,890,000 to $180,140,000, adjusted Corporate EBITDA in the range of $174,900,000 to $181,150,000, FFO in the range of $139,500,000 to $145,250,000, FFO available to common shareholders in the range of $129,280,000 to $135,030,000, AFFO available to common shareholders in the range of $130,290,000 to $136,040,000, FFO diluted per common share in the range of $2.23 to $2.33 and AFFO diluted per common share in the range of $2.25 to $2.35.

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