Chesapeake Lodging Trust Q4 FFO Up - Quick Facts

(RTTNews) - Chesapeake Lodging Trust (CHSP) Thursday said fourth-quarter funds from operations, or FFO, increased to $21.5 million or $0.44 per share, up from $15.9 million or $0.40 per share in the same period last year.

AFFO for the quarter totaled $21.6 million or $0.44 per share.

Net income available to common shareholders dropped to $9.1 million or $0.18 per share from $7.5 million or $0.19 per share last year.

On average, five analysts polled by Thomson Reuters expected the company to earn $0.17 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues increased to $111.6 million from $85.1 million last year. Analysts expected revenues of $112.36 million.

Pro forma RevPAR improved 4.8 percent to $146.78 million from $140.04 million last year.

Looking ahead to the first quarter, the company has forecast AFFO in a range of $0.20 to $0.22 per share, with loss ranging between $0.07 and $0.05 per share. Analysts currently expect first-quarter loss of $0.04 per share. For the fiscal 2014, the company has reaffirmed its previously provided earnings outlook range of $0.79 to $0.89 per share. Analysts currently expect full-year earnings of $1.04 per share.