LaSalle Hotel Properties (NYSE:LHO) was downgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “underperform” rating in a research report issued on Monday, November 20th, Marketbeat Ratings reports. They presently have a $26.00 target price on the real estate investment trust’s stock. Evercore ISI’s target price points to a potential downside of 7.34% from the company’s previous close. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently issued reports on LHO. 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 cut shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and cut their target price for the company from $25.00 to $24.00 in a research note on Wednesday, August 2nd. Boenning Scattergood lowered shares of LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating in a report on Thursday, August 24th. Robert W. Baird set a $31.00 price target on shares of LaSalle Hotel Properties and gave the company a “hold” rating in a report on Friday, August 25th. Finally, Zacks Investment Research lowered shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a report on Wednesday, September 20th. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. LaSalle Hotel Properties currently has a consensus rating of “Hold” and an average target price of $28.47.
Shares of LaSalle Hotel Properties (LHO) traded down $0.16 on Monday, reaching $28.06. 1,384,507 shares of the company’s stock were exchanged, compared to its average volume of 1,282,761. The company has a market capitalization of $3,160.00, a PE ratio of 11.07, a price-to-earnings-growth ratio of 2.30 and a beta of 1.11. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.45. LaSalle Hotel Properties has a 1 year low of $27.44 and a 1 year high of $31.87.
LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.46). 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 quarter in the prior year, the business earned $0.84 EPS. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. analysts expect that LaSalle Hotel Properties will post 2.46 earnings per share for the current fiscal year.
In other news, COO Alfred L. Young sold 17,750 shares of LaSalle Hotel Properties stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total transaction of $501,970.00. Following the transaction, the chief operating officer now directly owns 88,808 shares of the company’s stock, valued at $2,511,490.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. First Mercantile Trust Co. boosted its position in shares of LaSalle Hotel Properties by 1.9% during 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 in the last quarter. Ffcm LLC boosted its position in shares of LaSalle Hotel Properties by 150.1% during the second quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 2,445 shares in the last quarter. IFP Advisors Inc lifted its position 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in LaSalle Hotel Properties in the 3rd quarter valued at $174,000. Finally, Fox Run Management L.L.C. bought a new stake in LaSalle Hotel Properties in the 3rd quarter valued at $212,000.
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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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