Chesapeake Lodging Trust Q2 FFO Rises

(RTTNews) - Chesapeake Lodging Trust (CHSP) Monday reported second-quarter funds from operations or FFO available to common shareholders of $31.2 million or $0.64 per share, down from $25.4 million or $0.53 per share last year.

AFFO available to common shareholders was $31.2 million or $0.64 per share, up from $26.6 million or $0.56 per share in the prior year period.

Net income available to common shareholders declined to $18.8 million or $0.38 per share from $14.6 million or $0.30 per share in the comparable quarter last year.

Total revenues for the quarter rose to $128.87 million from $115.57 million last year.

Analysts polled by Thomson Reuters expected the company to post loss of $0.34 per share on revenues of $129.99 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the third quarter, the company expects AFFO per share in the range of $0.61 per share to $0.64 per share and net income per share of $0.32 to $0.35. Analysts currently expect earnings of $0.37 per share.

For full year 2014, the company now expects AFFO per share in the range of $1.95 to $2.03 and earnings in the range of $0.83 to $0.91 per share. Earlier, the company expected AFFO per share in the range of $1.93 to $2.03 and earnings in the range of $0.81 to $0.91 per share.

Analysts now expect earnings of $0.90 per share.