LaSalle Hotel Properties Reaches New 1-Year High at $34.47 (LHO)
LaSalle Hotel Properties (NYSE:LHO)’s share price hit a new 52-week high on Friday , Analyst Ratings Net reports. The company traded as high as $34.47 and last traded at $34.37, with a volume of 159,469 shares trading hands. The stock had previously closed at $34.25.
LHO has been the subject of a number of recent research reports. Analysts at Cowen and Company raised their price target on shares of LaSalle Hotel Properties from $1.50 to $36.50 in a research note on Wednesday, April 30th. They now have an “outperform” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of LaSalle Hotel Properties from $32.00 to $33.00 in a research note on Monday, April 28th. Finally, 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, April 24th. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $32.96.
The stock has a 50-day moving average of $32.72 and a 200-day moving average of $31.53. The company has a market cap of $3.590 billion and a P/E ratio of 49.21.
LaSalle Hotel Properties (NYSE:LHO) last announced its earnings results on Wednesday, April 23rd. The company reported $0.32 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.27 earnings per share. LaSalle Hotel Properties’s revenue was up 14.2% compared to the same quarter last year. On average, analysts predict that LaSalle Hotel Properties will post $2.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Thursday, June 26th. This is a positive change from LaSalle Hotel Properties’s previous quarterly dividend of $0.28.
Lasalle Hotel Properties is a self-managed and self-administered real estate investment trust (NYSE:LHO).
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