Zacks Investment Research upgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a sell rating to a hold rating in a research report sent to investors on Wednesday, October 18th.
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. “
LHO has been the topic of a number of other research reports. Robert W. Baird set a $31.00 price objective on shares of LaSalle Hotel Properties and gave the stock a hold rating in a report on Friday, August 25th. BidaskClub lowered shares of LaSalle Hotel Properties from a hold rating to a sell rating in a report on Friday, August 25th. Boenning Scattergood set a $35.00 price objective on shares of LaSalle Hotel Properties and gave the stock a buy rating in a report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) lowered shares of LaSalle Hotel Properties from a neutral rating to a sell rating and decreased their price objective for the stock from $25.00 to $24.00 in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG decreased their price objective on shares of LaSalle Hotel Properties from $28.00 to $27.00 and set a hold rating on the stock in a report on Friday, July 21st. Three analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $29.00.
LaSalle Hotel Properties (LHO) traded up $0.03 during trading hours on Wednesday, reaching $28.50. 918,200 shares of the company traded hands, compared to its average volume of 1,370,000. The firm has a market cap of $3,230.00, a PE ratio of 11.12, a P/E/G ratio of 2.30 and a beta of 1.12. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.45. LaSalle Hotel Properties has a 1 year low of $23.06 and a 1 year 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.46). LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The business had revenue of $285.90 million during the quarter, compared to the consensus estimate of $295.02 million. During the same period last year, the firm earned $0.84 EPS. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. research analysts forecast that LaSalle Hotel Properties will post 2.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.80 dividend on an annualized basis and a yield of 6.32%. LaSalle Hotel Properties’s payout ratio is presently 111.11%.
Large investors have recently made changes to their positions in the stock. First Mercantile Trust Co. raised its position in shares of LaSalle Hotel Properties by 1.9% in the 2nd quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock valued at $113,000 after acquiring an additional 70 shares during the period. Ffcm LLC raised its position in shares of LaSalle Hotel Properties by 150.1% in the 2nd quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock valued at $125,000 after acquiring an additional 2,445 shares during the period. IFP Advisors Inc raised its position in shares of LaSalle Hotel Properties by 14.9% in the 2nd quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 592 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of LaSalle Hotel Properties in the 3rd quarter valued at approximately $174,000. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of LaSalle Hotel Properties in the 1st quarter valued at approximately $178,000.
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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