LaSalle Hotel Properties (LHO) Downgraded by Zacks Investment Research
Zacks Investment Research downgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a hold rating to a sell rating in a report released on Wednesday 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 analysts have also recently weighed in on the stock. Robert W. Baird set a $31.00 price target on shares of LaSalle Hotel Properties and gave the company a hold rating in a report on Friday, August 25th. BidaskClub cut shares of LaSalle Hotel Properties from a hold rating to a sell rating in a report on Friday, August 25th. Boenning Scattergood cut shares of LaSalle Hotel Properties from an outperform rating to a neutral rating in a report on Thursday, August 24th. 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 company from $25.00 to $24.00 in a report on Wednesday, August 2nd. Finally, Deutsche Bank AG reduced their price target on shares of LaSalle Hotel Properties from $28.00 to $27.00 and set a hold rating for the company in a report on Friday, July 21st. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $28.88.
LaSalle Hotel Properties (NYSE:LHO) opened at 28.80 on Wednesday. LaSalle Hotel Properties has a 1-year low of $23.05 and a 1-year high of $31.87. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 10.71 and a beta of 1.17. The company has a 50-day moving average of $28.35 and a 200-day moving average of $29.10.
LaSalle Hotel Properties (NYSE:LHO) last issued its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by ($0.01). LaSalle Hotel Properties had a net margin of 27.85% and a return on equity of 13.05%. The firm had revenue of $307.04 million during the quarter, compared to the consensus estimate of $318.94 million. During the same period in the previous year, the company posted $0.95 EPS. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. Analysts predict that LaSalle Hotel Properties will post $1.68 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend is Thursday, September 28th. LaSalle Hotel Properties’s payout ratio is 66.91%.
A number of institutional investors and hedge funds have recently made changes to their positions in LHO. Bank of Montreal Can boosted its holdings in LaSalle Hotel Properties by 535.5% during the first quarter. Bank of Montreal Can now owns 12,132 shares of the real estate investment trust’s stock worth $351,000 after purchasing an additional 10,223 shares during the last quarter. Comerica Bank boosted its holdings in LaSalle Hotel Properties by 4.4% during the first quarter. Comerica Bank now owns 88,289 shares of the real estate investment trust’s stock worth $2,686,000 after purchasing an additional 3,724 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in LaSalle Hotel Properties by 2.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,223 shares of the real estate investment trust’s stock worth $643,000 after purchasing an additional 434 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in LaSalle Hotel Properties by 21.1% during the first quarter. UBS Asset Management Americas Inc. now owns 232,063 shares of the real estate investment trust’s stock worth $6,718,000 after purchasing an additional 40,505 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new position in LaSalle Hotel Properties during the first quarter worth $1,090,000.
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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