LaSalle Hotel Properties (LHO) Given New $27.00 Price Target at Deutsche Bank AG
LaSalle Hotel Properties (NYSE:LHO) had its price objective dropped by Deutsche Bank AG from $28.00 to $27.00 in a research report issued on Friday. The firm currently has a “hold” rating on the real estate investment trust’s stock. Deutsche Bank AG’s price target would suggest a potential downside of 7.91% from the stock’s current price.
Other analysts have also recently issued reports about the stock. BidaskClub upgraded shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Boenning Scattergood restated an “outperform” rating and set a $35.00 target price on shares of LaSalle Hotel Properties in a research report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) began coverage on shares of LaSalle Hotel Properties in a research report on Monday, April 10th. They set a “neutral” rating and a $27.00 target price on the stock. Barclays PLC restated an “underweight” rating and set a $28.00 target price (up from $27.00) on shares of LaSalle Hotel Properties in a research report on Sunday, April 23rd. Finally, Zacks Investment Research upgraded shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $28.82.
Shares of LaSalle Hotel Properties (NYSE LHO) traded down 1.05% during midday trading on Friday, hitting $29.32. The company had a trading volume of 1,695,126 shares. The firm has a market capitalization of $3.32 billion, a P/E ratio of 10.90 and a beta of 1.16. The stock has a 50 day moving average price of $30.27 and a 200 day moving average price of $29.59. LaSalle Hotel Properties has a 1-year low of $23.05 and a 1-year high of $31.87.
LaSalle Hotel Properties (NYSE:LHO) last announced its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by $0.01. The business had revenue of $307.04 million for the quarter, compared to analysts’ expectations of $318.94 million. LaSalle Hotel Properties had a net margin of 20.32% and a return on equity of 8.70%. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. On average, equities analysts anticipate that LaSalle Hotel Properties will post $1.62 EPS for the current fiscal year.
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In related news, COO Alfred L. Young sold 15,000 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $30.44, for a total transaction of $456,600.00. Following the transaction, the chief operating officer now directly owns 100,027 shares in the company, valued at approximately $3,044,821.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.38% of the company’s stock.
A number of institutional investors have recently modified their holdings of LHO. James Investment Research Inc. bought a new position in shares of LaSalle Hotel Properties during the first quarter worth approximately $138,000. State of Alaska Department of Revenue increased its position in shares of LaSalle Hotel Properties by 24.0% in the first quarter. State of Alaska Department of Revenue now owns 22,060 shares of the real estate investment trust’s stock worth $637,000 after buying an additional 4,270 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of LaSalle Hotel Properties by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the real estate investment trust’s stock worth $825,000 after buying an additional 500 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of LaSalle Hotel Properties during the first quarter worth approximately $324,000. Finally, Capstone Asset Management Co. increased its position in shares of LaSalle Hotel Properties by 5.3% in the first quarter. Capstone Asset Management Co. now owns 10,705 shares of the real estate investment trust’s stock worth $310,000 after buying an additional 540 shares in the last quarter.
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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