LaSalle Hotel Properties (LHO) Shares Down 3%
LaSalle Hotel Properties (NYSE:LHO) traded down 3% on Thursday . The stock traded as low as $27.11 and last traded at $27.21, with a volume of 2,509,256 shares changing hands. The stock had previously closed at $28.06.
Several equities research analysts have weighed in on the stock. Credit Suisse Group AG cut shares of LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $26.00 to $25.00 in a research report on Thursday, July 21st. Zacks Investment Research cut shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Janney Montgomery Scott initiated coverage on shares of LaSalle Hotel Properties in a research report on Monday, May 23rd. They issued a “neutral” rating and a $24.00 target price for the company. TheStreet raised shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research report on Monday, July 18th. Finally, Deutsche Bank AG reaffirmed a “hold” rating on shares of LaSalle Hotel Properties in a research report on Sunday, June 26th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has issued a buy rating to the company. LaSalle Hotel Properties currently has an average rating of “Hold” and an average target price of $27.43.
The firm’s 50 day moving average price is $27.50 and its 200-day moving average price is $25.00. The stock has a market capitalization of $3.05 billion and a price-to-earnings ratio of 23.69.
LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.95 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.95. The firm had revenue of $351.10 million for the quarter, compared to the consensus estimate of $344.43 million. The company’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.91 EPS. Equities research analysts predict that LaSalle Hotel Properties will post $2.93 earnings per share for the current year.
In other news, insider Michael D. Barnello sold 150,000 shares of the business’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $28.49, for a total transaction of $4,273,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Alfred L. Young sold 17,000 shares of the business’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $28.11, for a total transaction of $477,870.00. Following the sale, the chief operating officer now directly owns 90,024 shares of the company’s stock, valued at $2,530,574.64. The disclosure for this sale can be found here.
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.