LaSalle Hotel Properties (LHO) Price Target Cut to $27.00 by Analysts at Barclays PLC
LaSalle Hotel Properties (NYSE:LHO) had its price target decreased by equities research analysts at Barclays PLC from $28.00 to $27.00 in a research report issued on Monday. The brokerage presently has an “underweight” rating on the real estate investment trust’s stock. Barclays PLC’s target price points to a potential downside of 5.33% from the company’s current price.
LHO has been the topic of a number of other reports. Robert W. Baird set a $31.00 target price on LaSalle Hotel Properties and gave the stock a “hold” rating in a research report on Friday, August 25th. BidaskClub lowered LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Boenning Scattergood set a $35.00 target price on LaSalle Hotel Properties and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research lowered LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, September 20th. Finally, Goldman Sachs Group, Inc. (The) lowered 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 report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company. LaSalle Hotel Properties currently has a consensus rating of “Hold” and a consensus price target of $29.32.
Shares of LaSalle Hotel Properties (NYSE:LHO) traded down 2.07% during trading on Monday, hitting $27.93. 2,034,824 shares of the stock traded hands. LaSalle Hotel Properties has a 52 week low of $23.05 and a 52 week high of $31.87. The company has a 50-day moving average of $29.16 and a 200-day moving average of $29.21. The firm has a market cap of $3.16 billion, a P/E ratio of 10.39 and a beta of 1.18.
LaSalle Hotel Properties (NYSE:LHO) last issued its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.46). LaSalle Hotel Properties had a return on equity of 8.27% and a net margin of 18.10%. The firm had revenue of $285.90 million for the quarter, compared to analyst estimates of $295.02 million. During the same period in the previous year, the company earned $0.84 earnings per share. LaSalle Hotel Properties’s revenue for the quarter was down 12.5% compared to the same quarter last year. On average, analysts forecast that LaSalle Hotel Properties will post $1.65 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LHO. First Mercantile Trust Co. raised its position in LaSalle Hotel Properties by 1.9% in the 2nd quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 70 shares during the last quarter. Ffcm LLC raised its position in LaSalle Hotel Properties by 150.1% in the 2nd quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 2,445 shares during the last quarter. IFP Advisors Inc raised its position in LaSalle Hotel Properties by 14.9% in the 2nd quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 592 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in LaSalle Hotel Properties in the 1st quarter valued at $178,000. Finally, Fox Run Management L.L.C. purchased a new stake in LaSalle Hotel Properties in the 3rd quarter valued at $212,000.
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).
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