LaSalle Hotel Properties (LHO) Lifted to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a sell rating to a hold rating in a research report released on Friday morning.
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 firms have also recently issued reports on LHO. Stifel Nicolaus reiterated a hold rating on shares of LaSalle Hotel Properties in a research report on Tuesday, October 17th. Goldman Sachs Group, Inc. (The) cut shares of LaSalle Hotel Properties from a neutral rating to a sell rating and reduced their price target for the stock from $25.00 to $24.00 in a research report on Wednesday, August 2nd. Deutsche Bank AG reduced their price target on shares of LaSalle Hotel Properties from $28.00 to $27.00 and set a hold rating on the stock in a research report on Friday, July 21st. BidaskClub cut shares of LaSalle Hotel Properties from a buy rating to a hold rating in a research report on Monday, July 24th. Finally, Robert W. Baird set a $31.00 price target on shares of LaSalle Hotel Properties and gave the stock a hold rating in a research report on Sunday, October 1st. Three equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $29.00.
Shares of LaSalle Hotel Properties (LHO) opened at $28.52 on Friday. The stock has a market cap of $3,229.37, a P/E ratio of 11.14, a PEG ratio of 2.32 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 $25.44 and a 1 year high of $31.87.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.46). The company had revenue of $285.90 million for the quarter, compared to the consensus estimate of $295.02 million. LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The company’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. sell-side analysts expect that LaSalle Hotel Properties will post 2.46 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.31%. The ex-dividend date of this dividend was Thursday, September 28th. LaSalle Hotel Properties’s payout ratio is 111.11%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. First Mercantile Trust Co. boosted its stake in LaSalle Hotel Properties by 1.9% during the second quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock worth $113,000 after buying an additional 70 shares during the period. Ffcm LLC boosted its stake in LaSalle Hotel Properties by 150.1% during the second quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 2,445 shares during the period. IFP Advisors Inc boosted its stake in LaSalle Hotel Properties by 14.9% during the second quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock worth $136,000 after buying an additional 592 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new position in LaSalle Hotel Properties during the third quarter worth $174,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in LaSalle Hotel Properties during the first quarter worth $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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