LaSalle Hotel Properties (NYSE:LHO) announced a quarterly dividend on Friday, March 16th, Wall Street Journal reports. Shareholders of record on Thursday, March 29th will be given a dividend of 0.45 per share by the real estate investment trust on Monday, April 16th. This represents a $1.80 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date is Wednesday, March 28th.
LaSalle Hotel Properties has increased its dividend by an average of 11.2% annually over the last three years. LaSalle Hotel Properties has a payout ratio of 73.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect LaSalle Hotel Properties to earn $2.15 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 83.7%.
Shares of LHO stock opened at $29.37 on Friday. The stock has a market capitalization of $3,324.83, a PE ratio of 11.89, a PEG ratio of 2.80 and a beta of 1.12. LaSalle Hotel Properties has a fifty-two week low of $24.10 and a fifty-two week high of $31.75. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.45.
LaSalle Hotel Properties (NYSE:LHO) last posted its earnings results on Tuesday, February 20th. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.39). The company had revenue of $257.51 million for the quarter, compared to analyst estimates of $261.42 million. LaSalle Hotel Properties had a return on equity of 8.11% and a net margin of 17.65%. research analysts anticipate that LaSalle Hotel Properties will post 2.1 EPS for the current year.
In other LaSalle Hotel Properties news, CEO Michael D. Barnello bought 19,398 shares of the company’s stock in a transaction on Friday, March 2nd. The shares were bought at an average price of $24.65 per share, for a total transaction of $478,160.70. Following the transaction, the chief executive officer now owns 183,221 shares of the company’s stock, valued at approximately $4,516,397.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.
LHO has been the topic of a number of analyst reports. ValuEngine upgraded LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research report on Wednesday, March 28th. Deutsche Bank reduced their target price on LaSalle Hotel Properties from $28.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Zacks Investment Research downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Bank of America cut LaSalle Hotel Properties from a “neutral” rating to an “underperform” rating in a research note on Monday, January 8th. Finally, Robert W. Baird set a $27.00 target price on LaSalle Hotel Properties and gave the stock a “hold” rating in a research note on Thursday, February 22nd. Eight equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $26.96.
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LaSalle Hotel Properties Company Profile
LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns 41 properties, which are upscale, full-service hotels, totaling approximately 10,400 guest rooms in 11 markets in seven states and the District of Columbia. The Company focuses on owning, redeveloping and repositioning upscale, full-service hotels located in urban, resort and convention markets.
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