Bank of America downgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a neutral rating to an underperform rating in a research report released on Monday morning, Marketbeat.com reports.

A number of other equities research analysts have also recently weighed in on LHO. Zacks Investment Research cut shares of LaSalle Hotel Properties from a hold rating to a sell rating in a report on Wednesday, September 20th. Robert W. Baird set a $31.00 price objective on shares of LaSalle Hotel Properties and gave the stock a hold rating in a report on Sunday, October 1st. Stifel Nicolaus restated a hold rating on shares of LaSalle Hotel Properties in a report on Tuesday, October 17th. Boenning Scattergood restated a hold rating on shares of LaSalle Hotel Properties in a report on Monday, October 23rd. Finally, Morgan Stanley cut their price objective on shares of LaSalle Hotel Properties from $29.00 to $27.00 and set an equal weight rating on the stock in a report on Monday, October 23rd. Eight research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. LaSalle Hotel Properties has an average rating of Hold and a consensus target price of $28.23.

Shares of LaSalle Hotel Properties (NYSE LHO) traded down $0.09 on Monday, reaching $28.30. 1,249,665 shares of the company’s stock were exchanged, compared to its average volume of 1,062,433. The stock has a market capitalization of $3,210.00, a PE ratio of 17.47, a PEG ratio of 2.42 and a beta of 1.11. 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 has a twelve month low of $27.44 and a twelve month high of $31.87.

LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.46). The business had revenue of $285.90 million during the quarter, compared to analysts’ expectations of $295.02 million. LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. LaSalle Hotel Properties’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.84 EPS. sell-side analysts forecast that LaSalle Hotel Properties will post 2.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.45 dividend. The ex-dividend date is Thursday, December 28th. This represents a $1.80 annualized dividend and a dividend yield of 6.36%. LaSalle Hotel Properties’s dividend payout ratio is presently 111.11%.

In other news, COO Alfred L. Young sold 17,750 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total value of $501,970.00. Following the transaction, the chief operating officer now owns 88,808 shares in the company, valued at $2,511,490.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.38% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in LaSalle Hotel Properties by 4.4% during the second quarter. Vanguard Group Inc. now owns 20,095,440 shares of the real estate investment trust’s stock valued at $598,844,000 after purchasing an additional 844,043 shares during the period. BlackRock Inc. lifted its position in LaSalle Hotel Properties by 3.2% during the second quarter. BlackRock Inc. now owns 14,874,256 shares of the real estate investment trust’s stock valued at $443,254,000 after purchasing an additional 456,149 shares during the period. State Street Corp lifted its position in LaSalle Hotel Properties by 3.4% during the second quarter. State Street Corp now owns 5,768,908 shares of the real estate investment trust’s stock valued at $171,921,000 after purchasing an additional 189,034 shares during the period. Goldman Sachs Group Inc. lifted its position in LaSalle Hotel Properties by 6.8% during the second quarter. Goldman Sachs Group Inc. now owns 4,834,897 shares of the real estate investment trust’s stock valued at $144,080,000 after purchasing an additional 307,543 shares during the period. Finally, Northern Trust Corp lifted its position in LaSalle Hotel Properties by 8.6% during the second quarter. Northern Trust Corp now owns 4,336,299 shares of the real estate investment trust’s stock valued at $129,222,000 after purchasing an additional 344,154 shares during the period.

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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).

Analyst Recommendations for LaSalle Hotel Properties (NYSE:LHO)

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