LaSalle Hotel Properties (NYSE:LHO) was downgraded by Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Monday, January 8th, MarketBeat Ratings reports.
LHO has been the subject of several other reports. Zacks Investment Research raised LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Tuesday, October 31st. Robert W. Baird set a $31.00 price objective on LaSalle Hotel Properties and gave the stock a “hold” rating in a report on Sunday, October 1st. ValuEngine cut LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Boenning Scattergood reissued a “hold” rating on shares of LaSalle Hotel Properties in a report on Monday, October 23rd. Finally, Wells Fargo & Co cut their price target on LaSalle Hotel Properties from $30.00 to $29.00 and set a “market perform” rating for the company in a report on Tuesday, October 24th. Eight analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $28.00.
LaSalle Hotel Properties (NYSE LHO) traded down $0.09 during trading hours on Monday, reaching $30.45. The company had a trading volume of 285,975 shares, compared to its average volume of 1,454,606. LaSalle Hotel Properties has a 12-month low of $27.44 and a 12-month high of $31.75. The stock has a market cap of $3,425.26, a P/E ratio of 11.82, a PEG ratio of 2.59 and a beta of 1.11. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45.
In other news, COO Alfred L. Young sold 17,750 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $28.28, for a total value of $501,970.00. Following the completion of the sale, the chief operating officer now owns 88,808 shares of the company’s stock, valued at $2,511,490.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in LHO. Schwab Charles Investment Management Inc. lifted its stake in shares of LaSalle Hotel Properties by 12.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,431,318 shares of the real estate investment trust’s stock worth $42,654,000 after acquiring an additional 154,294 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of LaSalle Hotel Properties by 3.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,060 shares of the real estate investment trust’s stock valued at $687,000 after purchasing an additional 837 shares during the last quarter. Swiss National Bank grew its holdings in shares of LaSalle Hotel Properties by 1.5% during the second quarter. Swiss National Bank now owns 188,700 shares of the real estate investment trust’s stock valued at $5,623,000 after purchasing an additional 2,800 shares during the last quarter. LSV Asset Management grew its holdings in shares of LaSalle Hotel Properties by 15.8% during the second quarter. LSV Asset Management now owns 476,579 shares of the real estate investment trust’s stock valued at $14,202,000 after purchasing an additional 65,100 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new position in shares of LaSalle Hotel Properties during the second quarter valued at approximately $2,980,000.
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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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