LaSalle Hotel Properties (LHO) Stock Rating Upgraded by Zacks Investment Research
LaSalle Hotel Properties (NYSE:LHO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday.
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 equities analysts also recently weighed in on LHO. Deutsche Bank AG dropped their target price on shares of LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating for the company in a report on Friday, July 21st. BidaskClub downgraded shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Goldman Sachs Group, Inc. (The) downgraded shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and dropped their target price for the company from $25.00 to $24.00 in a report on Wednesday, August 2nd. Boenning Scattergood downgraded shares of LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating in a report on Thursday, August 24th. Finally, Robert W. Baird set a $31.00 target price on shares of LaSalle Hotel Properties and gave the company a “hold” rating in a report on Friday, August 25th. Three analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.00.
Shares of LaSalle Hotel Properties (NYSE:LHO) traded down $0.07 on Friday, hitting $28.52. 890,300 shares of the stock were exchanged, compared to its average volume of 1,600,463. 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 has a 1-year low of $25.44 and a 1-year high of $31.87. The stock has a market cap of $3,229.38, a P/E ratio of 11.14, a PEG ratio of 2.32 and a beta of 1.12.
LaSalle Hotel Properties (NYSE:LHO) last posted its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.46). LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The business had revenue of $285.90 million for the quarter, compared to analysts’ expectations of $295.02 million. During the same quarter last year, the business posted $0.84 earnings per share. The business’s revenue was down 12.5% compared to the same quarter last year. equities analysts forecast that LaSalle Hotel Properties will post 2.46 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of LHO. Brookfield Asset Management Inc. purchased a new stake in shares of LaSalle Hotel Properties during the second quarter worth about $72,146,000. Bank of New York Mellon Corp boosted its position 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 worth $120,362,000 after acquiring an additional 1,635,160 shares during the last quarter. Principal Financial Group Inc. boosted its position 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 worth $73,105,000 after acquiring an additional 1,317,472 shares during the last quarter. Vanguard Group Inc. boosted its position 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 worth $598,844,000 after acquiring an additional 844,043 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of LaSalle Hotel Properties in the second quarter worth approximately $22,454,000.
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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