BMO Capital Markets Increases LaSalle Hotel Properties Price Target to $33.00 (LHO)
BMO Capital Markets upped their target price on shares of LaSalle Hotel Properties (NYSE:LHO) from $32.00 to $33.00 in a research note issued on Monday, AmericanBankingNews.com reports. BMO Capital Markets’ price objective indicates a potential upside of 1.29% from the stock’s previous close.
LaSalle Hotel Properties (NYSE:LHO) traded up 0.71% on Monday, hitting $32.58. 722,491 shares of the company’s stock traded hands. LaSalle Hotel Properties has a 52 week low of $22.84 and a 52 week high of $33.36. The stock’s 50-day moving average is $32.24 and its 200-day moving average is $31.16. The company has a market cap of $3.388 billion and a P/E ratio of 44.44.
LaSalle Hotel Properties (NYSE:LHO) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $218.86 million for the quarter, compared to the consensus estimate of $214.35 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, analysts predict that LaSalle Hotel Properties will post $2.48 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date of this dividend is Thursday, June 26th. This is a boost from LaSalle Hotel Properties’s previous quarterly dividend of $0.28.
A number of other analysts have also recently weighed in on LHO. Analysts at Stifel Nicolaus raised their price target on shares of LaSalle Hotel Properties from $33.00 to $37.00 in a research note on Thursday. They now have a “buy” rating on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of LaSalle Hotel Properties from $35.00 to $37.00 in a research note on Thursday, March 13th. Finally, analysts at Ned Davis Research upgraded shares of LaSalle Hotel Properties from a “sell” rating to a “neutral” rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $32.83.
Lasalle Hotel Properties is a self-managed and self-administered real estate investment trust (NYSE:LHO).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.