Chesapeake Lodging Trust (CHSP) Misses Q4 FFO by 2c, Reaffirms Outlook
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Chesapeake Lodging Trust (NYSE: CHSP) reported Q4 FFO of $0.52, $0.02 worse than the analyst estimate of $0.54.
2016 OUTLOOK
The Trust reaffirms its previously provided first quarter and full year 2016 outlook as follows (in millions, except RevPAR and per share amounts):
First Quarter2016 Outlook | Full Year2016 Outlook | |||||||||||||||||||||||
| Low | High | Low | High | |||||||||||||||||||||
| CONSOLIDATED: | ||||||||||||||||||||||||
| Net income available to common shareholders | $ | 3.4 | $ | 5.1 | $ | 72.9 | $ | 78.6 | ||||||||||||||||
| Net income per diluted common share | $ | 0.06 | $ | 0.09 | $ | 1.24 | $ | 1.34 | ||||||||||||||||
| Adjusted Corporate EBITDA | $ | 31.2 | $ | 32.7 | $ | 193.6 | $ | 200.1 | ||||||||||||||||
| AFFO available to common shareholders | $ | 21.8 | $ | 23.6 | $ | 147.1 | $ | 152.8 | ||||||||||||||||
| AFFO per diluted common share | $ | 0.37 | $ | 0.40 | $ | 2.50 | $ | 2.60 | ||||||||||||||||
| Corporate cash general and administrative expense | $ | 2.8 | $ | 3.0 | $ | 10.0 | $ | 10.8 | ||||||||||||||||
| Corporate non-cash general and administrative expense | $ | 2.3 | $ | 2.3 | $ | 9.4 | $ | 9.4 | ||||||||||||||||
| Weighted-average number of diluted common shares outstanding | 59.2 | 59.2 | 58.9 | 58.9 | ||||||||||||||||||||
| HOTEL PORTFOLIO: | ||||||||||||||||||||||||
| RevPAR | $ | 164.00 | $ | 167.00 | $ | 195.00 | $ | 199.00 | ||||||||||||||||
| Pro forma RevPAR increase over 2015(1) | 6.0 | % | 8.0 | % | 5.0 | % | 7.0 | % | ||||||||||||||||
| Adjusted Hotel EBITDA | $ | 36.3 | $ | 38.0 | $ | 213.0 | $ | 220.3 | ||||||||||||||||
| Adjusted Hotel EBITDA Margin | 26.9 | % | 27.6 | % | 33.7 | % | 34.2 | % | ||||||||||||||||
| Pro forma Adjusted Hotel EBITDA Margin increase over 2015(1) | ||||||||||||||||||||||||
For earnings history and earnings-related data on Chesapeake Lodging Trust (CHSP) click here.
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