Zacks Investment Research Upgrades LaSalle Hotel Properties (LHO) to Hold
LaSalle Hotel Properties (NYSE:LHO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
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. “
Other research analysts have also recently issued research reports about the stock. TheStreet cut shares of LaSalle Hotel Properties from a “b” rating to a “c+” rating in a research report on Friday, October 20th. Morgan Stanley cut their target price on shares of LaSalle Hotel Properties from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. Boenning Scattergood restated a “hold” rating on shares of LaSalle Hotel Properties in a research note on Monday, October 23rd. Stifel Nicolaus restated a “hold” rating on shares of LaSalle Hotel Properties in a research note on Tuesday, October 17th. Finally, Robert W. Baird set a $31.00 target price on shares of LaSalle Hotel Properties and gave the stock a “hold” rating in a research note on Sunday, October 1st. Three analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $29.00.
LaSalle Hotel Properties (NYSE:LHO) last posted its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 EPS for the quarter, missing the Zacks’ 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 company had revenue of $285.90 million during the quarter, compared to analyst estimates of $295.02 million. During the same period in the previous year, the company earned $0.84 EPS. The company’s quarterly revenue was down 12.5% compared to the same quarter last year.
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Several hedge funds and other institutional investors have recently modified their holdings of LHO. First Mercantile Trust Co. increased its holdings in shares of LaSalle Hotel Properties by 1.9% in 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 acquiring an additional 70 shares during the last quarter. Ffcm LLC grew its stake in LaSalle Hotel Properties by 150.1% during the 2nd quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 2,445 shares during the last quarter. IFP Advisors Inc grew its stake in LaSalle Hotel Properties by 14.9% during the 2nd quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock worth $136,000 after buying an additional 592 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in LaSalle Hotel Properties during the 1st quarter worth $178,000. Finally, Fox Run Management L.L.C. bought a new position in LaSalle Hotel Properties during the 3rd quarter worth $212,000.
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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