J P Morgan Chase & Co Lowers LaSalle Hotel Properties (LHO) to Underweight
J P Morgan Chase & Co cut shares of LaSalle Hotel Properties (NYSE:LHO) from a neutral rating to an underweight rating in a research report released on Thursday, Marketbeat Ratings reports. The firm currently has $24.00 target price on the real estate investment trust’s stock.
Other equities research analysts have also recently issued reports about the company. Boenning Scattergood restated a hold rating on shares of LaSalle Hotel Properties in a research note on Monday, October 23rd. TheStreet cut LaSalle Hotel Properties from a b rating to a c+ rating in a research note on Friday, October 20th. Goldman Sachs Group, Inc. (The) lowered LaSalle Hotel Properties from a neutral rating to a sell rating and reduced their target price for the company from $25.00 to $24.00 in a research report on Wednesday, August 2nd. BidaskClub lowered LaSalle Hotel Properties from a buy rating to a hold rating in a research report on Monday, July 24th. Finally, Deutsche Bank AG reduced their target price on LaSalle Hotel Properties from $28.00 to $27.00 and set a hold rating on the stock in a research report on Friday, July 21st. Four investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. LaSalle Hotel Properties currently has an average rating of Hold and a consensus target price of $28.64.
Shares of LaSalle Hotel Properties (LHO) traded down $0.23 during midday trading on Thursday, hitting $28.18. The company had a trading volume of 804,315 shares, compared to its average volume of 1,542,667. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3,190.88, a PE ratio of 11.01, a P/E/G ratio of 2.29 and a beta of 1.12. LaSalle Hotel Properties has a 1 year low of $26.82 and a 1 year high of $31.87.
LaSalle Hotel Properties (NYSE:LHO) last issued its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.46). The company had revenue of $285.90 million for 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%. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 earnings per share. analysts predict that LaSalle Hotel Properties will post 2.46 EPS for the current year.
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Several hedge funds have recently made changes to their positions in LHO. Brookfield Asset Management Inc. acquired a new position in shares of LaSalle Hotel Properties in the second quarter valued at about $72,146,000. Bank of New York Mellon Corp increased its holdings in shares of LaSalle Hotel Properties by 65.1% in the third quarter. Bank of New York Mellon Corp now owns 4,147,536 shares of the real estate investment trust’s stock valued at $120,362,000 after purchasing an additional 1,635,160 shares during the period. Principal Financial Group Inc. increased its holdings in shares of LaSalle Hotel Properties by 116.0% in the second quarter. Principal Financial Group Inc. now owns 2,453,209 shares of the real estate investment trust’s stock valued at $73,105,000 after purchasing an additional 1,317,472 shares during the period. Vanguard Group Inc. increased its holdings in shares of LaSalle Hotel Properties by 4.4% in 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. Finally, William Blair Investment Management LLC acquired a new position in shares of LaSalle Hotel Properties in the second quarter valued at about $22,454,000.
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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