LaSalle Hotel Properties (LHO) Upgraded 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 note issued to investors on Friday.
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. “
Other research analysts have also recently issued research reports about the company. Boenning Scattergood reaffirmed a hold rating on shares of LaSalle Hotel Properties in a report on Monday, October 23rd. TheStreet cut LaSalle Hotel Properties from a b rating to a c+ rating in a report on Friday, October 20th. Goldman Sachs Group, Inc. (The) cut LaSalle Hotel Properties from a neutral rating to a sell rating and dropped their price target for the company from $25.00 to $24.00 in a report on Wednesday, August 2nd. BidaskClub cut LaSalle Hotel Properties from a buy rating to a hold rating in a report on Monday, July 24th. Finally, Deutsche Bank AG dropped their price target on LaSalle Hotel Properties from $28.00 to $27.00 and set a hold rating on the stock in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. LaSalle Hotel Properties currently has a consensus rating of Hold and a consensus target price of $29.00.
Shares of LaSalle Hotel Properties (NYSE LHO) traded down $0.07 during trading hours on Friday, reaching $28.52. The company had a trading volume of 890,300 shares, compared to its average volume of 1,600,463. The company has a market capitalization of $3,229.38, a PE ratio of 11.14, a price-to-earnings-growth ratio of 2.32 and a beta of 1.12. LaSalle Hotel Properties has a 1 year low of $25.44 and a 1 year high of $31.87. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.22 and a current ratio of 3.22.
LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.46). The company had revenue of $285.90 million during 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%. LaSalle Hotel Properties’s quarterly revenue was down 12.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.84 EPS. equities analysts predict that LaSalle Hotel Properties will post 2.46 earnings per share for the current fiscal 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 given 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%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. First Mercantile Trust Co. grew its position in LaSalle Hotel Properties by 1.9% during the 2nd quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 70 shares in the last quarter. GAM Holding AG grew its holdings in shares of LaSalle Hotel Properties by 3.7% during the 2nd quarter. GAM Holding AG now owns 9,786 shares of the real estate investment trust’s stock valued at $292,000 after acquiring an additional 347 shares in the last quarter. IFP Advisors Inc grew its holdings in shares of LaSalle Hotel Properties by 14.9% during the 2nd quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 592 shares in the last quarter. Capstone Asset Management Co. grew its holdings in shares of LaSalle Hotel Properties by 6.4% during the 2nd quarter. Capstone Asset Management Co. now owns 11,385 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 680 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in shares of LaSalle Hotel Properties by 1.5% during the 2nd quarter. Arizona State Retirement System now owns 47,700 shares of the real estate investment trust’s stock valued at $1,421,000 after acquiring an additional 700 shares in the last quarter.
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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