LaSalle Hotel Properties (LHO) to Issue Quarterly Dividend of $0.45
LaSalle Hotel Properties (NYSE:LHO) declared a quarterly dividend on Friday, September 15th, Wall Street Journal reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.45 per share by the real estate investment trust on Monday, October 16th. This represents a $1.80 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend is Thursday, September 28th.
LaSalle Hotel Properties has raised its dividend by an average of 26.9% per year over the last three years and has raised its dividend every year for the last 5 years. LaSalle Hotel Properties has a dividend payout ratio of 70.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect LaSalle Hotel Properties to earn $0.85 per share next year, which means the company may not be able to cover its $1.80 annual dividend with an expected future payout ratio of 211.8%.
LaSalle Hotel Properties (LHO) traded up 0.62% on Friday, reaching $29.03. 944,130 shares of the company’s stock traded hands. LaSalle Hotel Properties has a 12-month low of $23.05 and a 12-month high of $31.87. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 10.80 and a beta of 1.17. The stock has a 50 day moving average price of $28.40 and a 200 day moving average price of $29.11.
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 Thomson Reuters’ consensus estimate of $0.82 by ($0.01). The company had revenue of $307.04 million for the quarter, compared to analysts’ expectations of $318.94 million. LaSalle Hotel Properties had a return on equity of 13.05% and a net margin of 27.85%. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. Analysts forecast that LaSalle Hotel Properties will post $1.68 EPS for the current year.
Several research analysts have weighed in on the stock. Robert W. Baird set a $31.00 target price on shares of LaSalle Hotel Properties and gave the stock a “hold” rating in a research note on Friday, August 25th. BidaskClub lowered shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Friday, August 25th. Boenning Scattergood lowered shares of LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 24th. Goldman Sachs Group, Inc. (The) lowered shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $25.00 to $24.00 in a research note on Wednesday, August 2nd. Finally, Deutsche Bank AG lowered their target price on shares of 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. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. LaSalle Hotel Properties presently has an average rating of “Hold” and an average target price of $28.88.
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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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