LaSalle Hotel Properties (LHO) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a hold rating to a buy rating in a report released on Tuesday. The brokerage currently has $32.00 price objective on the real estate investment trust’s stock.
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 research firms have also recently issued reports on LHO. Robert W. Baird set a $31.00 price objective on LaSalle Hotel Properties and gave the company a hold rating in a research report on Sunday, October 1st. ValuEngine cut LaSalle Hotel Properties from a buy rating to a hold rating in a research report on Thursday, November 30th. Boenning Scattergood reaffirmed a hold rating on shares of LaSalle Hotel Properties in a research report on Monday, October 23rd. Wells Fargo & Co lowered their price objective on LaSalle Hotel Properties from $30.00 to $29.00 and set a market perform rating on the stock in a research report on Tuesday, October 24th. Finally, Bank of America cut LaSalle Hotel Properties from a neutral rating to an underperform rating in a research report on Monday. Eight analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. The stock has an average rating of Hold and an average target price of $27.83.
LaSalle Hotel Properties (NYSE LHO) traded up $0.24 during mid-day trading on Tuesday, reaching $28.64. The company had a trading volume of 1,290,517 shares, compared to its average volume of 1,099,911. The company has a market cap of $3,210.00, a PE ratio of 17.68, a PEG ratio of 2.42 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 debt-to-equity ratio of 0.45, a current ratio of 3.22 and a quick ratio of 3.22.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.46). The business 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% compared to the same quarter last year. During the same period last year, the company posted $0.84 earnings per share. analysts predict that LaSalle Hotel Properties will post 2.46 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, December 28th. This represents a $1.80 annualized dividend and a dividend yield of 6.28%. LaSalle Hotel Properties’s payout ratio is 111.11%.
In other news, COO Alfred L. Young sold 17,750 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $28.28, for a total transaction of $501,970.00. Following the transaction, the chief operating officer now directly owns 88,808 shares of the company’s stock, valued at approximately $2,511,490.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Chiron Investment Management LLC bought a new position in shares of LaSalle Hotel Properties during the 2nd quarter valued at $8,132,000. Kennedy Capital Management Inc. bought a new position in LaSalle Hotel Properties in the 2nd quarter worth $2,980,000. JPMorgan Chase & Co. raised its holdings in LaSalle Hotel Properties by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,201,025 shares of the real estate investment trust’s stock worth $34,831,000 after purchasing an additional 155,893 shares during the period. Brookfield Asset Management Inc. bought a new position in LaSalle Hotel Properties in the 2nd quarter worth $72,146,000. Finally, Alpha Windward LLC raised its holdings in LaSalle Hotel Properties by 1,435.5% in the 3rd quarter. Alpha Windward LLC now owns 17,842 shares of the real estate investment trust’s stock worth $518,000 after purchasing an additional 16,680 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).
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