LaSalle Hotel Properties (NYSE:LHO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
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. “
Other analysts also recently issued reports about the stock. Instinet started coverage on shares of LaSalle Hotel Properties in a report on Wednesday, December 14th. They set a “neutral” rating and a $31.00 price objective for the company. Stifel Nicolaus upped their price objective on shares of LaSalle Hotel Properties from $26.00 to $28.50 and gave the stock a “hold” rating in a report on Friday. Nomura started coverage on shares of LaSalle Hotel Properties in a report on Wednesday, December 14th. They set a “neutral” rating and a $31.00 price objective for the company. Canaccord Genuity reaffirmed a “hold” rating and set a $28.00 price objective (up from $25.00) on shares of LaSalle Hotel Properties in a report on Friday, December 23rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $21.00 price objective (down from $22.00) on shares of LaSalle Hotel Properties in a report on Tuesday, November 15th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have given a buy rating to the stock. LaSalle Hotel Properties currently has an average rating of “Hold” and an average price target of $26.39.
LaSalle Hotel Properties (NYSE:LHO) opened at 30.35 on Friday. LaSalle Hotel Properties has a 12-month low of $19.01 and a 12-month high of $31.66. The company’s 50-day moving average is $29.65 and its 200 day moving average is $26.60. The stock has a market capitalization of $3.43 billion, a PE ratio of 14.52 and a beta of 1.21.
LaSalle Hotel Properties (NYSE:LHO) last posted its earnings results on Wednesday, October 19th. The real estate investment trust reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by $0.03. The business earned $326.90 million during the quarter, compared to the consensus estimate of $328.95 million. LaSalle Hotel Properties had a return on equity of 10.61% and a net margin of 20.49%. The business’s revenue was down .8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. On average, analysts predict that LaSalle Hotel Properties will post $2.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 17th. Investors of record on Friday, December 30th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.93%. The ex-dividend date of this dividend is Wednesday, December 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is currently 86.12%.
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Several large investors have recently made changes to their positions in LHO. Teacher Retirement System of Texas boosted its stake in shares of LaSalle Hotel Properties by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 15,760 shares of the real estate investment trust’s stock worth $372,000 after buying an additional 1,912 shares during the period. Eaton Vance Management raised its stake in shares of LaSalle Hotel Properties by 9.6% in the second quarter. Eaton Vance Management now owns 11,455 shares of the real estate investment trust’s stock worth $270,000 after buying an additional 1,000 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of LaSalle Hotel Properties by 1.2% in the second quarter. Nationwide Fund Advisors now owns 271,555 shares of the real estate investment trust’s stock worth $6,403,000 after buying an additional 3,290 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of LaSalle Hotel Properties during the second quarter worth approximately $1,619,000. Finally, First Trust Advisors LP raised its stake in shares of LaSalle Hotel Properties by 106.4% in the second quarter. First Trust Advisors LP now owns 157,432 shares of the real estate investment trust’s stock worth $3,712,000 after buying an additional 81,169 shares in the last quarter.
About LaSalle Hotel Properties
Lasalle Hotel Properties is a self-administered and self-managed real estate investment trust (REIT). The Company primarily buys, owns, redevelops and leases upscale and luxury hotels located in convention, resort and urban business markets. The Company owns interest in approximately 50 hotels with over 12,000 guest rooms located in approximately 10 states and the District of Columbia.
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