Brokerages Anticipate LaSalle Hotel Properties (LHO) Will Announce Earnings of $0.74 Per Share
Equities research analysts forecast that LaSalle Hotel Properties (NYSE:LHO) will report earnings of $0.74 per share for the current fiscal quarter, according to Zacks. Nine analysts have provided estimates for LaSalle Hotel Properties’ earnings, with the highest EPS estimate coming in at $0.82 and the lowest estimate coming in at $0.67. LaSalle Hotel Properties posted earnings of $0.85 per share during the same quarter last year, which suggests a negative year over year growth rate of 12.9%. The company is expected to report its next quarterly earnings results on Wednesday, October 18th.
According to Zacks, analysts expect that LaSalle Hotel Properties will report full-year earnings of $2.55 per share for the current fiscal year, with EPS estimates ranging from $2.24 to $2.73. For the next financial year, analysts expect that the business will report earnings of $2.46 per share, with EPS estimates ranging from $2.11 to $2.70. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for LaSalle Hotel Properties.
LaSalle Hotel Properties (NYSE:LHO) last issued its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 business had revenue of $307.04 million during the quarter, compared to analyst estimates of $318.94 million. During the same quarter in the prior year, the firm posted $0.95 earnings per share. LaSalle Hotel Properties’s revenue for the quarter was down 12.5% compared to the same quarter last year.
A number of research firms have recently weighed in on LHO. BidaskClub lowered LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research note on Monday. Deutsche Bank AG lowered their target price on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, July 21st. Boenning Scattergood set a $35.00 target price on LaSalle Hotel Properties and gave the company a “buy” rating in a research note on Tuesday, June 27th. Robert W. Baird reissued a “neutral” rating and issued a $31.00 target price (up previously from $30.00) on shares of LaSalle Hotel Properties in a research note on Friday, June 16th. Finally, Zacks Investment Research raised LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company’s stock. LaSalle Hotel Properties currently has an average rating of “Hold” and a consensus price target of $29.12.
LaSalle Hotel Properties (NYSE:LHO) opened at 29.09 on Thursday. LaSalle Hotel Properties has a 12 month low of $23.05 and a 12 month high of $31.87. The company has a 50 day moving average price of $30.33 and a 200 day moving average price of $29.55. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 10.82 and a beta of 1.16.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.19%. The ex-dividend date of this dividend was Wednesday, June 28th. LaSalle Hotel Properties’s payout ratio is 66.91%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its position in LaSalle Hotel Properties by 9.4% in the first quarter. IFP Advisors Inc now owns 3,985 shares of the real estate investment trust’s stock worth $115,000 after buying an additional 343 shares during the last quarter. Tyers Asset Management LLC increased its position in LaSalle Hotel Properties by 2.2% in the first quarter. Tyers Asset Management LLC now owns 4,004 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 88 shares during the period. James Investment Research Inc. purchased a new position in LaSalle Hotel Properties during the first quarter worth $138,000. Flinton Capital Management LLC increased its position in LaSalle Hotel Properties by 2.2% in the first quarter. Flinton Capital Management LLC now owns 5,096 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 112 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new position in LaSalle Hotel Properties during the first quarter worth $178,000.
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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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