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. “
Several other equities research analysts have also recently commented on LHO. Deutsche Bank AG dropped their target price 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. BidaskClub cut LaSalle Hotel Properties from a buy rating to a hold rating in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) lowered shares of LaSalle Hotel Properties from a neutral rating to a sell rating and decreased their price target for the stock from $25.00 to $24.00 in a research report on Wednesday, August 2nd. Boenning Scattergood lowered shares of LaSalle Hotel Properties from an outperform rating to a neutral rating in a research report on Thursday, August 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 Friday, August 25th. Three investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. The company currently has an average rating of Hold and a consensus target price of $29.00.
Shares of LaSalle Hotel Properties (LHO) opened at $28.42 on Friday. LaSalle Hotel Properties has a twelve month low of $26.20 and a twelve month high of $31.87. The company has a market capitalization of $3,229.37, a P/E ratio of 11.14, a P/E/G 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 (NYSE:LHO) last announced its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.46). LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The firm had revenue of $285.90 million for the quarter, compared to the consensus estimate of $295.02 million. During the same period in the previous year, the firm earned $0.84 EPS. LaSalle Hotel Properties’s revenue for the quarter was down 12.5% on a year-over-year basis. analysts expect that LaSalle Hotel Properties will post 2.46 EPS for the current year.
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 6.33%. 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. Chiron Investment Management LLC purchased a new position in LaSalle Hotel Properties during the 2nd quarter worth approximately $8,132,000. Kennedy Capital Management Inc. purchased a new position in LaSalle Hotel Properties during the 2nd quarter worth approximately $2,980,000. Dimensional Fund Advisors LP grew its position in LaSalle Hotel Properties by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,587,271 shares of the real estate investment trust’s stock worth $45,951,000 after purchasing an additional 34,183 shares in the last quarter. Legal & General Group Plc grew its position in LaSalle Hotel Properties by 6.8% during the 2nd quarter. Legal & General Group Plc now owns 755,112 shares of the real estate investment trust’s stock worth $22,510,000 after purchasing an additional 48,355 shares in the last quarter. Finally, Paragon Capital Management Ltd purchased a new position in LaSalle Hotel Properties during the 2nd quarter worth approximately $248,000.
About LaSalle Hotel Properties
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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