Zacks Investment Research lowered shares of LaSalle Hotel Properties (NYSE:LHO) from a buy rating to a hold rating in a report released on Thursday morning.
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 firms have also commented on LHO. Robert W. Baird set a $31.00 price objective on shares of LaSalle Hotel Properties and gave the stock a hold rating in a research report on Sunday, October 1st. ValuEngine lowered shares of LaSalle Hotel Properties from a buy rating to a hold rating in a research report on Thursday, November 30th. Boenning Scattergood reiterated a hold rating on shares of LaSalle Hotel Properties in a research report on Monday, October 23rd. Wells Fargo & Co decreased their price objective on shares of 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. Finally, Bank of America lowered shares of LaSalle Hotel Properties from a neutral rating to an underperform rating in a research report on Monday, January 8th. Eight analysts have rated the stock with a sell rating and ten have given a hold rating to the company. The stock currently has an average rating of Hold and a consensus target price of $27.83.
LaSalle Hotel Properties (NYSE LHO) traded up $0.71 during trading on Thursday, hitting $30.02. 2,150,000 shares of the company traded hands, compared to its average volume of 975,869. LaSalle Hotel Properties has a 1-year low of $27.44 and a 1-year high of $31.87. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3,399.22, a price-to-earnings ratio of 18.53, a PEG ratio of 2.57 and a beta of 1.11.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.80 dividend on an annualized basis and a yield of 6.00%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is 111.11%.
In other LaSalle Hotel Properties news, COO Alfred L. Young sold 17,750 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in LHO. Migdal Insurance & Financial Holdings Ltd. purchased a new position in LaSalle Hotel Properties in the 3rd quarter valued at about $174,000. Fox Run Management L.L.C. purchased a new position in LaSalle Hotel Properties in the 3rd quarter valued at about $212,000. Koch Industries Inc. purchased a new position in LaSalle Hotel Properties in the 2nd quarter valued at about $217,000. Riverhead Capital Management LLC lifted its holdings in LaSalle Hotel Properties by 67.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,690 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 3,090 shares in the last quarter. Finally, QCM Cayman Ltd. purchased a new position in LaSalle Hotel Properties in the 2nd quarter valued at about $254,000.
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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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