LaSalle Hotel Properties (NYSE:LHO) announced its quarterly earnings results on Thursday. The real estate investment trust reported ($0.10) EPS for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.37), MarketWatch Earnings reports. LaSalle Hotel Properties had a net margin of 17.65% and a return on equity of 8.11%. The firm had revenue of $223.00 million during the quarter, compared to the consensus estimate of $216.67 million. During the same quarter in the previous year, the company posted $0.67 earnings per share. The firm’s revenue was down 12.3% on a year-over-year basis. LaSalle Hotel Properties updated its Q2 guidance to $0.74-0.77 EPS and its FY18 guidance to $2.16-2.19 EPS.
LaSalle Hotel Properties traded up $0.09, reaching $31.52, on Friday, according to MarketBeat Ratings. The company had a trading volume of 650,412 shares, compared to its average volume of 1,430,491. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 2.93 and a beta of 1.11. LaSalle Hotel Properties has a fifty-two week low of $31.34 and a fifty-two week high of $31.69. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.45.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Thursday, March 29th were issued a $0.45 dividend. The ex-dividend date was Wednesday, March 28th. This represents a $1.80 dividend on an annualized basis and a yield of 5.71%. LaSalle Hotel Properties’s payout ratio is 72.87%.
In other LaSalle Hotel Properties news, CEO Michael D. Barnello purchased 19,398 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was purchased at an average cost of $24.65 per share, for a total transaction of $478,160.70. Following the acquisition, the chief executive officer now owns 183,221 shares in the company, valued at approximately $4,516,397.65. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.38% of the company’s stock.
A number of institutional investors have recently modified their holdings of LHO. Assetmark Inc. grew its holdings in LaSalle Hotel Properties by 4,082.5% during the 4th quarter. Assetmark Inc. now owns 4,057 shares of the real estate investment trust’s stock worth $114,000 after acquiring an additional 3,960 shares during the period. Xact Kapitalforvaltning AB acquired a new stake in LaSalle Hotel Properties during the 4th quarter worth about $267,000. Elkfork Partners LLC acquired a new stake in LaSalle Hotel Properties during the 4th quarter worth about $285,000. Eqis Capital Management Inc. grew its holdings in LaSalle Hotel Properties by 27.1% during the 4th quarter. Eqis Capital Management Inc. now owns 11,810 shares of the real estate investment trust’s stock worth $332,000 after acquiring an additional 2,521 shares during the period. Finally, Flinton Capital Management LLC grew its holdings in LaSalle Hotel Properties by 29.1% during the 4th quarter. Flinton Capital Management LLC now owns 12,936 shares of the real estate investment trust’s stock worth $363,000 after acquiring an additional 2,912 shares during the period.
A number of brokerages have recently commented on LHO. SunTrust Banks increased their price target on LaSalle Hotel Properties to $32.00 and gave the company a “hold” rating in a research note on Friday. They noted that the move was a valuation call. Boenning Scattergood reiterated a “hold” rating on shares of LaSalle Hotel Properties in a research note on Friday. JPMorgan Chase upgraded LaSalle Hotel Properties from an “underweight” rating to a “neutral” rating in a research note on Thursday. Stifel Nicolaus reiterated a “hold” rating and issued a $30.50 price target on shares of LaSalle Hotel Properties in a research note on Monday, April 16th. Finally, Zacks Investment Research downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a report on Saturday, January 27th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company. LaSalle Hotel Properties presently has a consensus rating of “Hold” and a consensus target price of $27.68.
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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