Key Developments: Chesapeake Lodging Trust (CHSP.N)

CHSP.N on New York Stock Exchange

36.93USD
19 Dec 2014
Price Change (% chg)

$0.38 (+1.04%)
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$36.55
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Latest Key Developments (Source: Significant Developments)

Chesapeake Lodging Trust declares dividends for fourth quarter
Friday, 12 Dec 2014 12:32pm EST 

Chesapeake Lodging Trust:Declares quarterly dividend payment of $0.30 per common share.Payable on Jan. 15, 2015 to shareholders of record on Dec. 31.  Full Article

Chesapeake Lodging Trust raises FY 2014 EBITDA outlook; narrows FY 2014 AFFO outlook; gives Q4 2014 outlook; AFFO outlook below analysts' estimates - Conference call
Monday, 3 Nov 2014 05:00pm EST 

Chesapeake Lodging Trust:Says that its updated FY 2014 outlook generates adjusted corporate EBITDA ranging from $138.5 million to $140.1 million.Says that FY 2014 AFFO per share range is now $1.98 to $2.01 per diluted share.Expect to generate Q4 2014 adjusted corporate EBITDA ranging between $33.8 million to $35.3 million and new AFFO range per share will be between $0.44 and $0.47 per diluted share.FY 2014 EBITDA of $138.4 million and AFFO per share of $2.00 - Thomson Reuters I/B/E/S.Q4 2014 EBITDA of $35.1 million and AFFO per share of $0.48 - Thomson Reuters I/B/E/S.  Full Article

Chesapeake Lodging Trust acquires JW Marriott San Francisco Union Square
Wednesday, 1 Oct 2014 01:17pm EDT 

Chesapeake Lodging Trust:Closes previously announced acquisition of JW Marriott San Francisco Union Square.Says for purchase price of $147.2 mln, or about $437,000 per key.The Trust assumed existing management agreement with Marriott International, Inc., as well as existing ground lease covering the property, which expires in 2083.  Full Article

Chesapeake Lodging Trust sells Courtyard Anaheim at Disneyland Resort
Tuesday, 30 Sep 2014 03:33pm EDT 

Chesapeake Lodging Trust:Closes sale of Courtyard Anaheim at Disneyland Resort for sale price of $32.5 mln, or $212,000 per key.  Full Article

Chesapeake Lodging Trust declares dividends for third quarter
Tuesday, 16 Sep 2014 10:13am EDT 

Chesapeake Lodging Trust:Declares quarterly dividend payment of $0.30 per common share.Dividend will be paid on Oct. 15, to shareholders of record at the close of business on Sept. 30.  Full Article

Chesapeake Lodging Trust completes public offering of common shares
Tuesday, 9 Sep 2014 10:57am EDT 

Chesapeake Lodging Trust:Completes public offering of 4,830,000 common shares, including 630,000 shares sold pursuant to the full exercise by the underwriter of its option to purchase additional shares.Raised about$144.1 million of net proceeds, after deducting the underwriting discount and estimated offering costs.J.P. Morgan acted as the sole book-running manager for the offering.Intends to use the net proceeds from the offering, together with the net proceeds from the pending sale of the 153-room Courtyard Anaheim at Disneyland Resort.  Full Article

Chesapeake Lodging Trust prices offering of common shares
Thursday, 4 Sep 2014 08:54am EDT 

Chesapeake Lodging Trust:Says that it has priced public offering of 4,200,000 common shares for a total of about $126.0 mln of gross proceeds, before deducting underwriting discounts and estimated offering costs.Offering is expected to close on or about Sept. 9.Underwriter has been granted a 30-day option to purchase up to an additional 630,000 common shares.J.P. Morgan acted as the sole book-running manager for the offering.To use the net proceeds together with the net proceeds from the pending sale of the 153-room Courtyard Anaheim at Disneyland Resort, if completed, or a borrowing under its revolving credit facility, to fund the acquisition of the 337-room JW Marriott San Francisco Union Square.  Full Article

Chesapeake Lodging Trust announces proposed public offering of 4,200,000 common shares
Wednesday, 3 Sep 2014 04:17pm EDT 

Chesapeake Lodging Trust:Commences an underwritten public offering of 4,200,000 common shares.J.P. Morgan is acting as the sole book-running manager for offering.Underwriter may offer common shares from time to time in one or more transactions on the New York Stock Exchange, in over-the-counter market or through negotiated transactions at market prices or at negotiated prices.Trust expects to grant underwriter a 30-day option to purchase up to an additional 630,000 common shares.Trust intends to use net proceeds from offering, together with net proceeds from pending sale of the 153-room Courtyard Anaheim at Disneyland Resort, if completed, or borrowing under revolving credit facility, to fund the acquisition of the 337-room JW Marriott San Francisco Union Square.  Full Article

Chesapeake Lodging Trust announces agreements to acquire JW Marriott San Francisco Union Square and sell Courtyard Anaheim at Disneyland Resort
Wednesday, 3 Sep 2014 04:15pm EDT 

Chesapeake Lodging Trust:Enters into agreement to acquire 337-room JW Marriott San Francisco Union Square located in San Francisco, California, for purchase price of $147.2 mln.Trust expects to assume existing management agreement with Marriott International, Inc., as well as existing ground lease covering the property on which hotel is located, which expires in 2083.Completion of proposed acquisition is expected within next 45 days.Trust also enters into agreement to sell the 153-room Courtyard Anaheim at Disneyland Resort located in Anaheim, California, for purchase price of $32.5 mln.Completion of proposed sale is expected to close within the next 45 days.  Full Article

Chesapeake Lodging Trust gives Q3 2014 earnings guidance; net income guidance below analysts' estimates; raises FY 2014 EBITDA guidance; raises low end of prior FY 2014 net income, FFO guidance
Monday, 4 Aug 2014 04:15pm EDT 

Chesapeake Lodging Trust:Expects Q3 2014 net income to be in the range of $15.5 to $17.0 mln.Expects Q3 2014 net income per diluted common to be in the range of $0.32 to $0.35.Expects Q3 2014 adjusted corporate EBITDA to be in the range of $40.5 to $42.2 mln.Expects Q3 2014 AFFO per diluted common share to be in the range of $0.61 to $0.64.Expects FY 2014 net income in the range of $40.6 to $44.5 mln (prior range of $39.7 to $ 44.5 mln).Expects FY 2014 net income per diluted common to be in the range of $0.83 - $0.91 (prior range of $0.81 to $ 0.91).Expects FY 2014 adjusted corporate EBITDA to be in the range of $134.0 to $138.2 mln (prior range of $132.7 to $138.0 mln).Expects FY 2014 AFFO per diluted common share to be in the range of $1.95 to $2.03 (prior range of $1.93 to $2.03).Q3 2014 net income of $18.6 mln, AFFO per share of $0.64 and EBITDA of $42.0 mln - Thomson Reuters I/B/E/S.FY 2014 AFFO per share of $2.01 and EBITDA of $137.6 mln - Thomson Reuters I/B/E/S.  Full Article

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