Zacks Investment Research downgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a hold rating to a sell rating in a research note released on Wednesday, October 25th.
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. “
A number of other analysts have also issued reports on the stock. Morgan Stanley dropped their price target on shares of LaSalle Hotel Properties from $29.00 to $27.00 and set an equal weight rating for the company in a research note on Monday, October 23rd. Deutsche Bank AG dropped their price target on shares of LaSalle Hotel Properties from $28.00 to $27.00 and set a hold rating for the company in a research note on Friday, July 21st. Boenning Scattergood set a $35.00 price target on shares of LaSalle Hotel Properties and gave the stock a buy rating in a research note on Tuesday, June 27th. 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. Finally, TheStreet lowered shares of LaSalle Hotel Properties from a b rating to a c+ rating in a research note on Friday, October 20th. Three equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $29.00.
LaSalle Hotel Properties (LHO) traded down $0.07 on Wednesday, hitting $28.52. 890,300 shares of the stock were exchanged, compared to its average volume of 1,290,269. The stock has a market capitalization of $3,238.43, a price-to-earnings ratio of 11.17, a P/E/G ratio of 2.32 and a beta of 1.12. LaSalle Hotel Properties has a 12 month low of $25.44 and a 12 month high of $31.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.22 and a quick ratio of 3.22.
LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.46). The firm had revenue of $285.90 million for the quarter, compared to analysts’ expectations of $295.02 million. LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.84 EPS. analysts forecast that LaSalle Hotel Properties will post 2.46 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.31%. The ex-dividend date was Thursday, September 28th. LaSalle Hotel Properties’s payout ratio is currently 111.11%.
Hedge funds have recently bought and sold shares of 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 worth $113,000 after purchasing an additional 70 shares during the period. Ffcm LLC lifted its holdings in LaSalle Hotel Properties by 150.1% in the 2nd quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock valued at $125,000 after acquiring an additional 2,445 shares during the last quarter. IFP Advisors Inc lifted its holdings in LaSalle Hotel Properties by 14.9% in the 2nd quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 592 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in LaSalle Hotel Properties in the 3rd quarter valued at about $174,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in LaSalle Hotel Properties in the 1st quarter valued at about $178,000.
About LaSalle Hotel Properties
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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