Zacks Investment Research Lowers LaSalle Hotel Properties (LHO) to Hold
LaSalle Hotel Properties (NYSE:LHO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
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. “
A number of other analysts have also recently issued reports on the company. Bank of America cut LaSalle Hotel Properties from a “neutral” rating to an “underperform” rating in a research report on Monday, January 8th. Citigroup cut LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and set a $25.00 target price for the company. in a research report on Thursday, December 14th. Boenning Scattergood cut LaSalle Hotel Properties from a “neutral” rating to an “under perform” rating in a research report on Friday, December 8th. ValuEngine cut LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Finally, Evercore ISI cut LaSalle Hotel Properties from an “in-line” rating to an “underperform” rating and set a $26.00 price objective for the company. in a research report on Monday, November 20th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $28.00.
In other LaSalle Hotel Properties news, COO Alfred L. Young sold 17,750 shares of the stock in a transaction that occurred 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 completion of the sale, 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 can be accessed through this hyperlink. 0.38% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of LHO. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in LaSalle Hotel Properties during the 3rd quarter worth approximately $174,000. Fox Run Management L.L.C. acquired a new stake in shares of LaSalle Hotel Properties in the 3rd quarter valued at approximately $212,000. Koch Industries Inc. acquired a new stake in shares of LaSalle Hotel Properties in the 2nd quarter valued at approximately $217,000. QCM Cayman Ltd. acquired a new stake in shares of LaSalle Hotel Properties in the 2nd quarter valued at approximately $254,000. Finally, Flinton Capital Management LLC lifted its holdings in shares of LaSalle Hotel Properties by 67.0% in the 2nd quarter. Flinton Capital Management LLC now owns 8,512 shares of the real estate investment trust’s stock valued at $254,000 after buying an additional 3,416 shares during the period.
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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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