LaSalle Hotel Properties (LHO) Receives Average Rating of “Hold” from Analysts
LaSalle Hotel Properties (NYSE:LHO) has been assigned a consensus recommendation of “Hold” from the sixteen ratings firms that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $28.71.
Several research firms have recently weighed in on LHO. BidaskClub raised LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Boenning Scattergood reissued an “outperform” rating and issued a $35.00 price objective on shares of LaSalle Hotel Properties in a research report on Tuesday, April 18th. Goldman Sachs Group, Inc. (The) began coverage on LaSalle Hotel Properties in a research report on Monday, April 10th. They issued a “neutral” rating and a $27.00 price objective for the company. Deutsche Bank AG reduced their price objective on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating for the company in a research report on Friday. Finally, Barclays PLC reissued an “underweight” rating and issued a $28.00 price objective (up from $27.00) on shares of LaSalle Hotel Properties in a research report on Sunday, April 23rd.
Shares of LaSalle Hotel Properties (LHO) opened at 29.32 on Monday. LaSalle Hotel Properties has a 12-month low of $23.05 and a 12-month high of $31.87. The firm has a market capitalization of $3.32 billion, a PE ratio of 10.90 and a beta of 1.16. The company has a 50-day moving average of $30.27 and a 200 day moving average of $29.59.
LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 EPS for the quarter, missing the consensus estimate of $0.82 by $0.01. LaSalle Hotel Properties had a net margin of 27.85% and a return on equity of 13.05%. The company had revenue of $307.04 million for the quarter, compared to analyst estimates of $318.94 million. During the same quarter last year, the business earned $0.95 EPS. The company’s revenue for the quarter was down 12.5% on a year-over-year basis. On average, analysts predict that LaSalle Hotel Properties will post $1.66 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a $0.45 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.80 annualized dividend and a yield of 6.14%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is currently 66.91%.
In related news, COO Alfred L. Young sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 100,027 shares of the company’s stock, valued at $3,044,821.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of LaSalle Hotel Properties by 6,612.1% in the first quarter. BlackRock Inc. now owns 14,418,107 shares of the real estate investment trust’s stock valued at $417,404,000 after buying an additional 14,203,299 shares during the period. Vanguard Group Inc. boosted its position in shares of LaSalle Hotel Properties by 7.8% in the first quarter. Vanguard Group Inc. now owns 19,251,397 shares of the real estate investment trust’s stock valued at $557,328,000 after buying an additional 1,393,862 shares during the period. Norges Bank purchased a new position in shares of LaSalle Hotel Properties during the fourth quarter valued at approximately $31,914,000. Morgan Stanley boosted its position in shares of LaSalle Hotel Properties by 14.9% in the first quarter. Morgan Stanley now owns 6,976,863 shares of the real estate investment trust’s stock valued at $201,980,000 after buying an additional 902,406 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of LaSalle Hotel Properties during the first quarter valued at approximately $18,256,000.
About LaSalle Hotel Properties
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).
Receive News & Ratings for LaSalle Hotel Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LaSalle Hotel Properties and related companies with MarketBeat.com's FREE daily email newsletter.