Zacks Investment Research upgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a sell rating to a hold rating in a research note issued to investors on Wednesday, October 18th.
According to Zacks, “Lasalle Hotel Properties, which intends to operate as a real estate investment trust for federal income tax purposes, has been formed to own hotel properties and to continue and expand the hotel investment activities of LaSalle Partners Incorporated and certain of its affiliates collectively, LaSalle. LaSalle is an institutionally respected real estate services and investment firm which has extensive experience in the acquisition, investment management, finance, development and disposition of hotel properties. “
Several other research analysts also recently issued reports on LHO. Boenning Scattergood set a $35.00 target price on shares of LaSalle Hotel Properties and gave the company a buy rating in a research note on Tuesday, June 27th. Deutsche Bank AG lowered 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 research note on Friday, July 21st. BidaskClub cut shares of LaSalle Hotel Properties from a buy rating to a hold rating in a research note on Monday, July 24th. Goldman Sachs Group, Inc. (The) cut shares of LaSalle Hotel Properties from a neutral rating to a sell rating and lowered their target price for the company from $25.00 to $24.00 in a research note on Wednesday, August 2nd. Finally, Robert W. Baird set a $31.00 target price on shares of LaSalle Hotel Properties and gave the company a hold rating in a research note on Friday, August 25th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $29.00.
LaSalle Hotel Properties (NYSE LHO) traded down 0.07% during trading on Wednesday, hitting $27.98. The stock had a trading volume of 1,333,500 shares. The firm has a market cap of $3.17 billion, a P/E ratio of 10.41 and a beta of 1.18. LaSalle Hotel Properties has a 12-month low of $23.05 and a 12-month high of $31.87. The stock’s 50 day moving average price is $29.09 and its 200 day moving average price is $29.18.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.46). The business had revenue of $285.90 million during the quarter, compared to analyst estimates of $295.02 million. LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.84 EPS. On average, analysts anticipate that LaSalle Hotel Properties will post $1.60 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders 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 111.11%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Mercantile Trust Co. lifted its holdings in LaSalle Hotel Properties by 1.9% in the second quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 70 shares during the period. Ffcm LLC increased its stake in LaSalle Hotel Properties by 150.1% in the second quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 2,445 shares in the last quarter. IFP Advisors Inc increased its stake in LaSalle Hotel Properties by 14.9% in the second quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock valued at $136,000 after purchasing an additional 592 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in LaSalle Hotel Properties in the first quarter valued at approximately $178,000. Finally, Fox Run Management L.L.C. bought a new stake in LaSalle Hotel Properties in the third quarter valued at approximately $212,000.
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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