LaSalle Hotel Properties (LHO) Trading Down 3%
LaSalle Hotel Properties (NYSE:LHO)’s share price traded down 3% during trading on Thursday . The company traded as low as $27.11 and last traded at $27.21, with a volume of 2,509,256 shares trading hands. The stock had previously closed at $28.06.
A number of equities analysts recently commented on the company. BTIG Research assumed coverage on LaSalle Hotel Properties in a report on Thursday, August 25th. They set a “neutral” rating for the company. Zacks Investment Research upgraded LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Citigroup Inc. upped their price target on LaSalle Hotel Properties from $23.00 to $27.00 and gave the stock a “neutral” rating in a research note on Thursday, July 28th. Barclays PLC set a $25.00 price target on LaSalle Hotel Properties and gave the stock a “sell” rating in a research note on Thursday, July 21st. Finally, Credit Suisse Group AG cut LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $26.00 to $25.00 in a research note on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $27.43.
The company has a 50-day moving average of $27.64 and a 200-day moving average of $25.02. The company has a market cap of $3.03 billion and a PE ratio of 23.53.
LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.95. During the same quarter in the prior year, the business posted $0.91 earnings per share. The company earned $351.10 million during the quarter, compared to analysts’ expectations of $344.43 million. The company’s revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that LaSalle Hotel Properties will post $2.93 EPS for the current fiscal year.
In other news, insider Michael D. Barnello sold 150,000 shares of LaSalle Hotel Properties stock in a transaction on Friday, August 26th. The stock was sold at an average price of $28.49, for a total value of $4,273,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Alfred L. Young sold 17,000 shares of LaSalle Hotel Properties stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $28.11, for a total value of $477,870.00. Following the completion of the transaction, the chief operating officer now owns 90,024 shares in the company, 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.
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