Zacks: Analysts Expect LaSalle Hotel Properties (LHO) Will Announce Quarterly Sales of $316.73 Million
Equities research analysts predict that LaSalle Hotel Properties (NYSE:LHO) will post sales of $316.73 million for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for LaSalle Hotel Properties’ earnings, with estimates ranging from $306.95 million to $324.02 million. LaSalle Hotel Properties posted sales of $351.09 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 9.8%. The business is expected to issue its next earnings results on Wednesday, July 19th.
On average, analysts expect that LaSalle Hotel Properties will report full year sales of $316.73 million for the current year, with estimates ranging from $1.12 billion to $1.17 billion. For the next fiscal year, analysts expect that the company will post sales of $1.15 billion per share, with estimates ranging from $1.12 billion to $1.16 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover LaSalle Hotel Properties.
LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings data on Wednesday, February 22nd. The real estate investment trust reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The firm had revenue of $289.50 million for the quarter, compared to the consensus estimate of $286.22 million. LaSalle Hotel Properties had a return on equity of 10.61% and a net margin of 20.49%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share.
LHO has been the subject of a number of analyst reports. Zacks Investment Research upgraded LaSalle Hotel Properties from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, January 17th. Canaccord Genuity restated a “hold” rating and set a $28.00 price objective on shares of LaSalle Hotel Properties in a research report on Tuesday, February 14th. Goldman Sachs Group Inc initiated coverage on LaSalle Hotel Properties in a research report on Monday, April 10th. They set a “neutral” rating and a $27.00 price objective for the company. Boenning Scattergood restated an “outperform” rating and set a $35.00 price objective on shares of LaSalle Hotel Properties in a research report on Tuesday, April 18th. Finally, Barclays PLC set a $27.00 target price on LaSalle Hotel Properties and gave the stock a “sell” rating in a report on Tuesday, February 14th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $28.18.
In other LaSalle Hotel Properties news, COO Alfred L. Young sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $30.44, for a total value of $456,600.00. Following the completion of the sale, the chief operating officer now owns 100,027 shares of the company’s stock, valued at $3,044,821.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.54% of the company’s stock.
A number of large investors have recently made changes to their positions in LHO. AMP Capital Investors Ltd boosted its stake in shares of LaSalle Hotel Properties by 27.6% in the third quarter. AMP Capital Investors Ltd now owns 70,344 shares of the real estate investment trust’s stock worth $1,677,000 after buying an additional 15,200 shares during the period. Harrison Street Securities LLC boosted its stake in shares of LaSalle Hotel Properties by 26.9% in the third quarter. Harrison Street Securities LLC now owns 24,252 shares of the real estate investment trust’s stock worth $579,000 after buying an additional 5,140 shares during the period. Citadel Advisors LLC boosted its stake in shares of LaSalle Hotel Properties by 11.0% in the third quarter. Citadel Advisors LLC now owns 58,052 shares of the real estate investment trust’s stock worth $1,385,000 after buying an additional 5,747 shares during the period. Pacer Advisors Inc. boosted its stake in shares of LaSalle Hotel Properties by 11.5% in the third quarter. Pacer Advisors Inc. now owns 12,468 shares of the real estate investment trust’s stock worth $298,000 after buying an additional 1,288 shares during the period. Finally, Riverhead Capital Management LLC boosted its stake in shares of LaSalle Hotel Properties by 5,013.6% in the third quarter. Riverhead Capital Management LLC now owns 4,500 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 4,412 shares during the period.
Shares of LaSalle Hotel Properties (NYSE:LHO) opened at 28.10 on Friday. The company has a market capitalization of $3.18 billion, a PE ratio of 10.45 and a beta of 1.17. LaSalle Hotel Properties has a one year low of $21.56 and a one year high of $31.87. The firm’s 50-day moving average price is $28.87 and its 200 day moving average price is $28.83.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 17th. Shareholders of record on Friday, March 31st were paid a $0.45 dividend. The ex-dividend date of this dividend was Wednesday, March 29th. This represents a $1.80 dividend on an annualized basis and a yield of 6.41%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 86.12%.
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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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