LaSalle Hotel Properties (NYSE:LHO) posted its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.46), Yahoo Finance reports. LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The business had revenue of $285.90 million for the quarter, compared to the consensus estimate of $295.02 million. During the same period in the previous year, the firm earned $0.84 earnings per share. The company’s revenue was down 12.5% compared to the same quarter last year.
LaSalle Hotel Properties (NYSE:LHO) traded down 0.07% on Friday, hitting $27.98. 1,333,500 shares of the company were exchanged. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 10.41 and a beta of 1.18. The stock has a 50 day moving average of $29.09 and a 200 day moving average of $29.18. LaSalle Hotel Properties has a 52 week low of $23.05 and a 52 week high of $31.87.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.43%. LaSalle Hotel Properties’s payout ratio is presently 111.11%.
A number of equities research analysts have weighed in on LHO shares. Morgan Stanley reduced their target price on shares of LaSalle Hotel Properties from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, October 23rd. Deutsche Bank AG reduced their target price on shares of LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, July 21st. Zacks Investment Research lowered shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Robert W. Baird set a $31.00 price objective on shares of LaSalle Hotel Properties and gave the company a “hold” rating in a research note on Friday, August 25th. Finally, Boenning Scattergood lowered shares of LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 24th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. LaSalle Hotel Properties currently has an average rating of “Hold” and an average target price of $29.00.
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LaSalle Hotel Properties Company Profile
LaSalle Hotel Properties is a self-administered and self-managed real estate investment trust. The Company primarily buys, owns, redevelops and leases upscale and luxury full-service hotels located in convention, resort and urban business markets. As of December 31, 2016, the Company owned interests in 46 hotels with approximately 11,450 guest rooms located in nine states of the United States and the District of Columbia (DC).
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