Robert W. Baird Analysts Give LaSalle Hotel Properties (LHO) a $31.00 Price Target
Robert W. Baird set a $31.00 target price on LaSalle Hotel Properties (NYSE:LHO) in a research report released on Sunday. The brokerage currently has a hold rating on the real estate investment trust’s stock.
Several other analysts have also recently commented on the company. BidaskClub cut LaSalle Hotel Properties from a hold rating to a sell rating in a research report on Friday, August 25th. Zacks Investment Research lowered LaSalle Hotel Properties from a hold rating to a sell rating in a research report on Wednesday, September 20th. Boenning Scattergood set a $35.00 price target on LaSalle Hotel Properties and gave the stock a buy rating in a research report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) cut LaSalle Hotel Properties from a neutral rating to a sell rating and decreased their price target for the stock from $25.00 to $24.00 in a research note on Wednesday, August 2nd. Finally, Deutsche Bank AG decreased their price target on LaSalle Hotel Properties from $28.00 to $27.00 and set a hold rating for the company in a research note on Friday, July 21st. Four analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. LaSalle Hotel Properties currently has an average rating of Hold and a consensus target price of $28.88.
LaSalle Hotel Properties (NYSE LHO) opened at 28.90 on Friday. The firm has a 50-day moving average price of $28.48 and a 200 day moving average price of $29.10. The stock has a market cap of $3.27 billion, a PE ratio of 10.75 and a beta of 1.18. LaSalle Hotel Properties has a 52-week low of $23.05 and a 52-week high of $31.87.
LaSalle Hotel Properties (NYSE:LHO) last released its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.01). The business had revenue of $307.04 million for the quarter, compared to the consensus estimate of $318.94 million. LaSalle Hotel Properties had a net margin of 27.85% and a return on equity of 13.05%. The business’s quarterly revenue was down 12.5% on a year-over-year basis. During the same period last year, the firm posted $0.95 EPS. Equities analysts anticipate that LaSalle Hotel Properties will post $1.68 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.23%. The ex-dividend date is Thursday, September 28th. LaSalle Hotel Properties’s payout ratio is currently 66.91%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. First Mercantile Trust Co. boosted its position in shares of LaSalle Hotel Properties by 1.9% during the 2nd quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock valued at $113,000 after purchasing an additional 70 shares in the last quarter. Ffcm LLC grew its stake in shares of LaSalle Hotel Properties by 150.1% in the 2nd quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 2,445 shares during the last quarter. IFP Advisors Inc grew its stake in shares of LaSalle Hotel Properties by 14.9% in the 2nd quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock worth $136,000 after purchasing an additional 592 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of LaSalle Hotel Properties in the 1st quarter worth approximately $178,000. Finally, World Asset Management Inc acquired a new position in shares of LaSalle Hotel Properties in the 2nd quarter worth approximately $214,000.
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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