Boenning Scattergood cut shares of LaSalle Hotel Properties (NYSE:LHO) from a neutral rating to an under perform rating in a report issued on Friday morning.
Other analysts have also recently issued reports about the company. Wells Fargo & Company lowered their target price on LaSalle Hotel Properties from $30.00 to $29.00 and set a market perform rating on the stock in a research report on Tuesday, October 24th. Zacks Investment Research upgraded LaSalle Hotel Properties from a sell rating to a hold rating in a research report on Friday, November 10th. Citigroup lowered their target price on LaSalle Hotel Properties from $29.00 to $26.50 and set a neutral rating on the stock in a research report on Wednesday, October 25th. Robert W. Baird set a $31.00 target price on LaSalle Hotel Properties and gave the company a hold rating in a research report on Friday, August 25th. Finally, BidaskClub cut LaSalle Hotel Properties from a hold rating to a sell rating in a research report on Friday, August 25th. Six analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. The stock presently has a consensus rating of Hold and an average target price of $28.47.
Shares of LaSalle Hotel Properties (NYSE:LHO) traded down $0.01 during trading on Friday, hitting $28.05. The stock had a trading volume of 1,214,712 shares, compared to its average volume of 1,118,292. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.22 and a quick ratio of 3.22. The firm has a market cap of $3,177.28, a PE ratio of 10.96, a price-to-earnings-growth ratio of 2.28 and a beta of 1.11. LaSalle Hotel Properties has a fifty-two week low of $27.44 and a fifty-two week 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.46). The company had revenue of $285.90 million for the quarter, compared to analyst estimates of $295.02 million. LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The firm’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 earnings per share. research analysts forecast that LaSalle Hotel Properties will post 2.46 EPS for the current 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 stock was 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 in the company, valued at approximately $2,511,490.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Chiron Investment Management LLC acquired a new position in shares of LaSalle Hotel Properties during the 2nd quarter valued at $8,132,000. Kennedy Capital Management Inc. acquired a new position in shares of LaSalle Hotel Properties during the 2nd quarter valued at $2,980,000. Legal & General Group Plc increased its position in shares of LaSalle Hotel Properties by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 755,112 shares of the real estate investment trust’s stock valued at $22,510,000 after purchasing an additional 48,355 shares during the period. Rhumbline Advisers increased its position in shares of LaSalle Hotel Properties by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 276,918 shares of the real estate investment trust’s stock valued at $8,252,000 after purchasing an additional 6,946 shares during the period. Finally, Brookfield Asset Management Inc. acquired a new position in shares of LaSalle Hotel Properties during the 2nd quarter valued at $72,146,000.
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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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