Analysts Expect LaSalle Hotel Properties (LHO) Will Post Quarterly Sales of $294.68 Million
Wall Street brokerages predict that LaSalle Hotel Properties (NYSE:LHO) will announce sales of $294.68 million for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for LaSalle Hotel Properties’ earnings. The lowest sales estimate is $289.56 million and the highest is $302.08 million. LaSalle Hotel Properties reported sales of $326.94 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 9.9%. The company is scheduled to announce its next quarterly earnings report on Wednesday, October 18th.
According to Zacks, analysts expect that LaSalle Hotel Properties will report full-year sales of $294.68 million for the current fiscal year, with estimates ranging from $1.11 billion to $1.18 billion. For the next financial year, analysts expect that the company will post sales of $1.11 billion per share, with estimates ranging from $1.07 billion to $1.18 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover LaSalle Hotel Properties.
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 for the quarter, missing the consensus estimate of $0.82 by $0.01. The firm had revenue of $307.04 million during the quarter, compared to analysts’ expectations of $318.94 million. LaSalle Hotel Properties had a net margin of 27.85% and a return on equity of 13.05%. LaSalle Hotel Properties’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 earnings per share.
LHO has been the topic of several recent research reports. Barclays PLC reaffirmed an “underweight” rating and set a $28.00 price objective (up previously from $27.00) on shares of LaSalle Hotel Properties in a research report on Sunday, April 23rd. Boenning Scattergood reaffirmed an “outperform” rating and set a $35.00 price objective on shares of LaSalle Hotel Properties in a research report on Tuesday, April 18th. Zacks Investment Research lowered shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Robert W. Baird reissued a “neutral” rating and issued a $31.00 price target (up previously from $30.00) on shares of LaSalle Hotel Properties in a research report on Friday, June 16th. Finally, Deutsche Bank AG dropped their price target on shares of LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $28.88.
LaSalle Hotel Properties (NYSE LHO) opened at 28.09 on Wednesday. The stock has a market capitalization of $3.18 billion, a P/E ratio of 10.45 and a beta of 1.16. LaSalle Hotel Properties has a 52 week low of $23.05 and a 52 week high of $31.87. The stock has a 50 day moving average of $29.52 and a 200 day moving average of $29.38.
The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors 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 6.41%. The ex-dividend date was Wednesday, June 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is currently 66.91%.
Large investors have recently bought and sold shares of the company. Karp Capital Management Corp acquired a new stake in LaSalle Hotel Properties during the first quarter worth $1,090,000. James Investment Research Inc. acquired a new stake in LaSalle Hotel Properties during the first quarter worth $138,000. Dimensional Fund Advisors LP increased its stake in LaSalle Hotel Properties by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,587,271 shares of the real estate investment trust’s stock worth $45,951,000 after buying an additional 34,183 shares in the last quarter. Russell Investments Group Ltd. increased its stake in LaSalle Hotel Properties by 23.4% in the first quarter. Russell Investments Group Ltd. now owns 1,238,948 shares of the real estate investment trust’s stock worth $35,862,000 after buying an additional 234,609 shares in the last quarter. Finally, Virginia Retirement Systems ET AL increased its stake in LaSalle Hotel Properties by 526.0% in the first quarter. Virginia Retirement Systems ET AL now owns 62,600 shares of the real estate investment trust’s stock worth $1,812,000 after buying an additional 52,600 shares in the last quarter.
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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).
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