LaSalle Hotel Properties’ (LHO) Market Perform Rating Reiterated at Raymond James Financial, Inc.
LaSalle Hotel Properties (NYSE:LHO)‘s stock had its “market perform” rating restated by equities researchers at Raymond James Financial, Inc. in a research note issued to investors on Monday.
Several other brokerages have also recently commented on LHO. Stifel Nicolaus restated a “hold” rating on shares of LaSalle Hotel Properties in a report on Tuesday, October 17th. Zacks Investment Research upgraded LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Wednesday, October 18th. Goldman Sachs Group, Inc. (The) cut LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $25.00 to $24.00 in a report on Wednesday, August 2nd. Deutsche Bank AG decreased their target price on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Friday, July 21st. Finally, BidaskClub cut LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Four investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. LaSalle Hotel Properties currently has an average rating of “Hold” and a consensus price target of $29.00.
Shares of LaSalle Hotel Properties (NYSE:LHO) opened at 27.98 on Monday. The company has a 50-day moving average of $29.09 and a 200 day moving average of $29.18. The firm has a market cap of $3.17 billion, a P/E ratio of 10.41 and a beta of 1.18. LaSalle Hotel Properties has a 12-month low of $23.05 and a 12-month high of $31.87.
LaSalle Hotel Properties (NYSE:LHO) last announced its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.46). The business had revenue of $285.90 million for the quarter, compared to the consensus estimate of $295.02 million. LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. LaSalle Hotel Properties’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.84 EPS. Equities analysts predict that LaSalle Hotel Properties will post $1.60 EPS for the current year.
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A number of large investors have recently added to or reduced their stakes in LHO. Teachers Advisors LLC lifted its stake in LaSalle Hotel Properties by 256.3% in the first quarter. Teachers Advisors LLC now owns 677,053 shares of the real estate investment trust’s stock valued at $19,601,000 after buying an additional 487,027 shares during the period. Dimensional Fund Advisors LP lifted 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 valued at $45,951,000 after buying an additional 34,183 shares during the period. Renaissance Technologies LLC lifted its stake in LaSalle Hotel Properties by 110.6% in the first quarter. Renaissance Technologies LLC now owns 205,800 shares of the real estate investment trust’s stock valued at $5,958,000 after buying an additional 108,100 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in LaSalle Hotel Properties in the first quarter valued at about $178,000. Finally, State Street Corp lifted its stake in LaSalle Hotel Properties by 0.9% in the first quarter. State Street Corp now owns 5,579,874 shares of the real estate investment trust’s stock valued at $161,534,000 after buying an additional 49,203 shares during the period.
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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