LaSalle Hotel Properties (LHO) Cut to “Under Perform” at Boenning Scattergood
Boenning Scattergood lowered shares of LaSalle Hotel Properties (NYSE:LHO) from a neutral rating to an under perform rating in a report issued on Friday, MarketBeat reports.
Other analysts have also recently issued research reports about the stock. TheStreet cut shares of LaSalle Hotel Properties from a b rating to a c+ rating in a report on Friday, October 20th. Morgan Stanley dropped their target price 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. Robert W. Baird set a $30.00 target price on shares of LaSalle Hotel Properties and gave the company a hold rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of LaSalle Hotel Properties from a sell rating to a hold rating in a report on Wednesday, October 18th. Finally, Stifel Nicolaus restated a hold rating on shares of LaSalle Hotel Properties in a report on Tuesday, October 17th. Six investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. The company presently has an average rating of Hold and a consensus price target of $28.47.
Shares of LaSalle Hotel Properties (NYSE LHO) opened at $28.05 on Friday. The firm has a market cap of $3,176.15, a price-to-earnings ratio of 10.96, a P/E/G ratio of 2.28 and a beta of 1.11. LaSalle Hotel Properties has a fifty-two week low of $27.44 and a fifty-two week high of $31.87. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the 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%. The business’s revenue was down 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. equities analysts expect that LaSalle Hotel Properties will post 2.46 EPS for the current year.
In related news, COO Alfred L. Young sold 17,750 shares of the company’s stock in a transaction dated 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 approximately $2,511,490.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.38% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Chiron Investment Management LLC bought a new position in LaSalle Hotel Properties in the 2nd quarter worth about $8,132,000. Kennedy Capital Management Inc. purchased a new position in LaSalle Hotel Properties in the 2nd quarter worth about $2,980,000. Legal & General Group Plc raised its position in LaSalle Hotel Properties by 6.8% in 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 buying an additional 48,355 shares during the last quarter. Rhumbline Advisers raised its position in LaSalle Hotel Properties by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 276,918 shares of the real estate investment trust’s stock worth $8,252,000 after buying an additional 6,946 shares during the last quarter. Finally, Brookfield Asset Management Inc. purchased a new position in LaSalle Hotel Properties in the 2nd quarter worth about $72,146,000.
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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