LaSalle Hotel Properties (LHO) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a hold rating to a buy rating in a report released on Tuesday morning. Zacks Investment Research currently has $32.00 target price on the real estate investment trust’s stock.

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. “

Several other research analysts have also recently weighed in on LHO. Robert W. Baird set a $31.00 price objective on LaSalle Hotel Properties and gave the stock a hold rating in a research report on Sunday, October 1st. Stifel Nicolaus reissued a hold rating on shares of LaSalle Hotel Properties in a report on Tuesday, October 17th. Boenning Scattergood reissued a hold rating on shares of LaSalle Hotel Properties in a report on Monday, October 23rd. Morgan Stanley reduced their target price on LaSalle Hotel Properties from $29.00 to $27.00 and set an equal weight rating on the stock in a report on Monday, October 23rd. Finally, Barclays reduced their target price on LaSalle Hotel Properties from $28.00 to $27.00 and set an underweight rating on the stock in a report on Monday, October 23rd. Eight research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $27.83.

LaSalle Hotel Properties (NYSE:LHO) traded up $0.23 during mid-day trading on Tuesday, reaching $28.64. The company’s stock had a trading volume of 1,290,000 shares, compared to its average volume of 1,210,000. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45. The company has a market cap of $3,240.00, a PE ratio of 17.68, a price-to-earnings-growth ratio of 2.43 and a beta of 1.11. LaSalle Hotel Properties has a 1 year low of $27.44 and a 1 year 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 consensus estimate of $0.73 by ($0.46). The firm had revenue of $285.90 million for the quarter, compared to the consensus estimate of $295.02 million. LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.84 EPS. equities research analysts expect that LaSalle Hotel Properties will post 2.46 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.28%. The ex-dividend date is Thursday, December 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is currently 111.11%.

In other news, COO Alfred L. Young sold 17,750 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $28.28, for a total transaction of $501,970.00. Following the sale, the chief operating officer now directly owns 88,808 shares of the company’s stock, valued at approximately $2,511,490.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in LaSalle Hotel Properties in the third quarter valued at about $174,000. Fox Run Management L.L.C. acquired a new stake in LaSalle Hotel Properties in the third quarter valued at about $212,000. Koch Industries Inc. acquired a new stake in LaSalle Hotel Properties in the second quarter valued at about $217,000. Riverhead Capital Management LLC boosted its stake in LaSalle Hotel Properties by 67.2% in the second quarter. Riverhead Capital Management LLC now owns 7,690 shares of the real estate investment trust’s stock valued at $229,000 after buying an additional 3,090 shares in the last quarter. Finally, QCM Cayman Ltd. acquired a new stake in LaSalle Hotel Properties in the second quarter valued at about $254,000.

WARNING: “LaSalle Hotel Properties (LHO) Upgraded at Zacks Investment Research” was first reported by BBNS and is owned by of BBNS. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States and international copyright and trademark legislation. The legal version of this report can be viewed at https://baseballnewssource.com/markets/lasalle-hotel-properties-lho-upgraded-at-zacks-investment-research/1827999.html.

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).

Get a free copy of the Zacks research report on LaSalle Hotel Properties (LHO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for LaSalle Hotel Properties (NYSE:LHO)

Receive News & Ratings for LaSalle Hotel Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LaSalle Hotel Properties and related companies with our FREE daily email newsletter.

 


Latest News

Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
Trade Rumor: Manny Machado Could Land With Yankees
Trade Rumor: Manny Machado Could Land With Yankees
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal


Leave a Reply

 
© 2006-2018 BBNS.