Brokerages predict that LaSalle Hotel Properties (NYSE:LHO) will report $294.68 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have issued estimates for LaSalle Hotel Properties’ earnings, with estimates ranging from $289.56 million to $302.08 million. LaSalle Hotel Properties reported sales of $326.94 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 9.9%. The company is scheduled to issue its next earnings results on Wednesday, October 18th.

On average, analysts expect that LaSalle Hotel Properties will report full-year sales of $294.68 million for the current fiscal year, with estimates ranging from $1.11 billion to $1.18 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.11 billion per share, with estimates ranging from $1.07 billion to $1.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for LaSalle Hotel Properties.

LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by $0.01. The company had revenue of $307.04 million for the quarter, compared to analyst estimates of $318.94 million. LaSalle Hotel Properties had a return on equity of 13.05% and a net margin of 27.85%. LaSalle Hotel Properties’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 earnings per share.

A number of equities research analysts have recently commented on the stock. Boenning Scattergood set a $35.00 target price on shares of LaSalle Hotel Properties and gave the company a “buy” rating in a report on Tuesday, June 27th. Robert W. Baird reaffirmed a “neutral” rating and issued a $31.00 target price (up from $30.00) on shares of LaSalle Hotel Properties in a report on Friday, June 16th. BidaskClub raised shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Zacks Investment Research cut shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Finally, Goldman Sachs Group, Inc. (The) cut shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and reduced their target price for the company from $25.00 to $24.00 in a report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $28.88.

Hedge funds and other institutional investors have recently modified their holdings of the company. First Mercantile Trust Co. raised its position 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 last quarter. IFP Advisors Inc raised its position in shares of LaSalle Hotel Properties by 9.4% in the first quarter. IFP Advisors Inc now owns 3,985 shares of the real estate investment trust’s stock valued at $115,000 after buying an additional 343 shares during the last quarter. Tyers Asset Management LLC raised its position in shares of LaSalle Hotel Properties by 2.2% in the first quarter. Tyers Asset Management LLC now owns 4,004 shares of the real estate investment trust’s stock valued at $116,000 after buying an additional 88 shares during the last quarter. Ffcm LLC raised its position 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 last quarter. Finally, James Investment Research Inc. bought a new position in shares of LaSalle Hotel Properties during the first quarter valued at $138,000.

Shares of LaSalle Hotel Properties (NYSE:LHO) opened at 28.09 on Wednesday. LaSalle Hotel Properties has a 12 month low of $23.05 and a 12 month high of $31.87. The firm has a market capitalization of $3.18 billion, a P/E ratio of 10.45 and a beta of 1.16. The firm’s 50-day moving average price is $29.52 and its 200 day moving average price is $29.38.

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a dividend of $0.45 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.80 annualized dividend and a yield of 6.41%. LaSalle Hotel Properties’s payout ratio is currently 66.91%.

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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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Earnings History and Estimates for LaSalle Hotel Properties (NYSE:LHO)

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