LaSalle Hotel Properties (LHO) Stock Rating Upgraded by Zacks Investment Research
LaSalle Hotel Properties (NYSE:LHO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm currently has a $32.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 10.65% from the stock’s previous close.
According to Zacks, “Lasalle Hotel Properties, which intends to operate as a real estate investment trust for federal income tax purposes, has been formed to own hotel properties and to continue and expand the hotel investment activities of LaSalle Partners Incorporated and certain of its affiliates collectively, LaSalle. LaSalle is an institutionally respected real estate services and investment firm which has extensive experience in the acquisition, investment management, finance, development and disposition of hotel properties. “
Other equities research analysts also recently issued reports about the company. Boenning Scattergood reiterated a “hold” rating on shares of LaSalle Hotel Properties in a report on Monday, October 23rd. TheStreet downgraded LaSalle Hotel Properties from a “b” rating to a “c+” rating in a report on Friday, October 20th. Stifel Nicolaus reiterated a “hold” rating on shares of LaSalle Hotel Properties in a report on Tuesday, October 17th. ValuEngine downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Finally, Robert W. Baird set a $31.00 price target on LaSalle Hotel Properties and gave the company a “hold” rating in a report on Sunday, October 1st. Eight equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $27.83.
LaSalle Hotel Properties (NYSE:LHO) last issued its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.46). LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The firm had revenue of $285.90 million during the quarter, compared to the consensus estimate of $295.02 million. During the same quarter last year, the firm posted $0.84 earnings per share. LaSalle Hotel Properties’s revenue was down 12.5% compared to the same quarter last year. sell-side analysts predict that LaSalle Hotel Properties will post 2.46 earnings per share for the current fiscal year.
In related news, COO Alfred L. Young sold 17,750 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $28.28, for a total transaction of $501,970.00. Following the completion of the transaction, the chief operating officer now directly owns 88,808 shares in the company, valued at approximately $2,511,490.24. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.38% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in LHO. Swiss National Bank boosted its position in LaSalle Hotel Properties by 1.5% during the 2nd quarter. Swiss National Bank now owns 188,700 shares of the real estate investment trust’s stock worth $5,623,000 after acquiring an additional 2,800 shares during the period. Riverhead Capital Management LLC boosted its position in LaSalle Hotel Properties by 67.2% during the 2nd quarter. Riverhead Capital Management LLC now owns 7,690 shares of the real estate investment trust’s stock worth $229,000 after acquiring an additional 3,090 shares during the period. Teachers Advisors LLC boosted its position in LaSalle Hotel Properties by 17.8% during the 2nd quarter. Teachers Advisors LLC now owns 797,415 shares of the real estate investment trust’s stock worth $23,763,000 after acquiring an additional 120,362 shares during the period. Nationwide Fund Advisors boosted its position in LaSalle Hotel Properties by 41.2% during the 2nd quarter. Nationwide Fund Advisors now owns 389,869 shares of the real estate investment trust’s stock worth $11,618,000 after acquiring an additional 113,800 shares during the period. Finally, BlackRock Inc. boosted its position in LaSalle Hotel Properties by 3.2% during the 2nd quarter. BlackRock Inc. now owns 14,874,256 shares of the real estate investment trust’s stock worth $443,254,000 after acquiring an additional 456,149 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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