LaSalle Hotel Properties (LHO) Cut to “Underperform” at Evercore ISI
Evercore ISI lowered shares of LaSalle Hotel Properties (NYSE:LHO) from an in-line rating to an underperform rating in a research note released on Monday, MarketBeat reports. The brokerage currently has $26.00 price objective on the real estate investment trust’s stock. The analysts noted that the move was a valuation call.
Several other equities analysts also recently commented on the stock. J P Morgan Chase & Co downgraded shares of LaSalle Hotel Properties from a neutral rating to an underweight rating and set a $24.00 target price on the stock. in a research report on Thursday, November 16th. Zacks Investment Research raised shares of LaSalle Hotel Properties from a sell rating to a hold rating in a research report on Friday, November 10th. Raymond James Financial, Inc. reissued a market perform rating on shares of LaSalle Hotel Properties in a research report on Monday, October 30th. UBS Group AG downgraded shares of LaSalle Hotel Properties from an outperform rating to a market perform rating in a research report on Monday, October 30th. Finally, Citigroup Inc. lowered their target price on shares of LaSalle Hotel Properties from $29.00 to $26.50 and set a neutral rating on the stock in a research report on Wednesday, October 25th. Five analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The stock has an average rating of Hold and an average price target of $28.47.
LaSalle Hotel Properties (NYSE LHO) opened at $28.27 on Monday. LaSalle Hotel Properties has a one year low of $26.82 and a one year 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. The firm has a market cap of $3,208.99, a price-to-earnings ratio of 11.07, a PEG ratio of 2.30 and a beta of 1.12.
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 for the quarter, missing the Zacks’ 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 company had revenue of $285.90 million during the quarter, compared to analyst estimates of $295.02 million. During the same period last year, the company posted $0.84 earnings per share. The company’s revenue was down 12.5% compared to the same quarter last year. research analysts predict that LaSalle Hotel Properties will post 2.46 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Mercantile Trust Co. lifted its stake in shares of LaSalle Hotel Properties by 1.9% in the second quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 70 shares during the period. Ffcm LLC lifted its stake in shares of LaSalle Hotel Properties by 150.1% in the second quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 2,445 shares during the period. IFP Advisors Inc lifted its stake in shares of LaSalle Hotel Properties by 14.9% in the second quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 592 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of LaSalle Hotel Properties in the third quarter valued at about $174,000. Finally, Fox Run Management L.L.C. bought a new stake in shares of LaSalle Hotel Properties in the third quarter valued at about $212,000.
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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