LaSalle Hotel Properties (NYSE:LHO) Cut to “Underperform” at Bank of America

LaSalle Hotel Properties (NYSE:LHO) was downgraded by research analysts at Bank of America from a “neutral” rating to an “underperform” rating in a report issued on Monday, January 8th, Marketbeat.com reports.

LHO has been the subject of a number of other research reports. Wells Fargo & Co dropped their target price on shares of 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. Zacks Investment Research raised shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Friday, November 10th. JPMorgan Chase & Co. lowered shares of LaSalle Hotel Properties from a “neutral” rating to an “underweight” rating and set a $24.00 price objective for the company. in a report on Thursday, November 16th. Citigroup dropped their price objective on shares of LaSalle Hotel Properties from $29.00 to $26.50 and set a “neutral” rating for the company in a report on Wednesday, October 25th. Finally, UBS Group lowered shares of LaSalle Hotel Properties from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. Eight research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. LaSalle Hotel Properties currently has a consensus rating of “Hold” and an average target price of $27.83.

LaSalle Hotel Properties (NYSE:LHO) traded up $0.24 during trading hours on Monday, reaching $28.64. 1,290,500 shares of the company’s stock were exchanged, compared to its average volume of 1,099,911. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.22 and a quick ratio of 3.22. The firm has a market capitalization of $3,242.96, a PE ratio of 17.68, a PEG ratio of 2.45 and a beta of 1.11. LaSalle Hotel Properties has a 52 week low of $27.44 and a 52 week high of $31.87.

LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.46). LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The company had revenue of $285.90 million for the quarter, compared to analyst estimates of $295.02 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. The business’s revenue was down 12.5% on a year-over-year basis. equities research analysts predict that LaSalle Hotel Properties will post 2.46 earnings per share for the current year.

In other LaSalle Hotel Properties news, COO Alfred L. Young sold 17,750 shares of the stock in a transaction that occurred on 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 $2,511,490.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Aurora Investment Counsel purchased a new position in shares of LaSalle Hotel Properties during the fourth quarter worth approximately $1,652,000. AXA grew its position in LaSalle Hotel Properties by 9.9% in the 3rd quarter. AXA now owns 233,702 shares of the real estate investment trust’s stock valued at $6,782,000 after buying an additional 20,982 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in LaSalle Hotel Properties by 2.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 147,426 shares of the real estate investment trust’s stock valued at $4,278,000 after buying an additional 4,072 shares during the last quarter. California Public Employees Retirement System grew its position in LaSalle Hotel Properties by 3.7% in the 3rd quarter. California Public Employees Retirement System now owns 320,623 shares of the real estate investment trust’s stock valued at $9,304,000 after buying an additional 11,364 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its position in LaSalle Hotel Properties by 58.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,766 shares of the real estate investment trust’s stock valued at $312,000 after buying an additional 3,956 shares during the last quarter.

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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).

Analyst Recommendations for LaSalle Hotel Properties (NYSE:LHO)

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