LaSalle Hotel Properties (NYSE:LHO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

LHO has been the subject of a number of other research reports. Wells Fargo & Co decreased their target price on shares of LaSalle Hotel Properties from $30.00 to $29.00 and set a “market perform” rating for the company in a research report on Tuesday, October 24th. JPMorgan Chase & Co. downgraded shares of LaSalle Hotel Properties from a “neutral” rating to an “underweight” rating and set a $24.00 target price for the company. in a research report on Thursday, November 16th. Citigroup decreased their target price on shares of LaSalle Hotel Properties from $29.00 to $26.50 and set a “neutral” rating for the company in a research report on Wednesday, October 25th. Bank of America downgraded shares of LaSalle Hotel Properties from a “neutral” rating to an “underperform” rating in a research report on Monday, January 8th. Finally, UBS Group downgraded shares of LaSalle Hotel Properties from an “outperform” rating to a “market perform” rating in a research report on Monday, October 30th. Eight investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. LaSalle Hotel Properties currently has an average rating of “Hold” and a consensus target price of $27.83.

LaSalle Hotel Properties (NYSE:LHO) opened at $29.55 on Thursday. The stock has a market cap of $3,274.66, a P/E ratio of 18.24, a P/E/G ratio of 2.47 and a beta of 1.11. LaSalle Hotel Properties has a fifty-two week low of $27.44 and a fifty-two week high of $31.87. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45.

LaSalle Hotel Properties (NYSE:LHO) last issued its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.46). The business had revenue of $285.90 million during the quarter, compared to the consensus estimate of $295.02 million. LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The firm’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 EPS. equities analysts expect that LaSalle Hotel Properties will post 2.46 earnings per share for the current year.

In other news, COO Alfred L. Young sold 17,750 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total transaction of $501,970.00. Following the completion of the sale, the chief operating officer now owns 88,808 shares of the company’s stock, valued at approximately $2,511,490.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.38% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of LaSalle Hotel Properties by 4.4% during the 2nd quarter. Vanguard Group Inc. now owns 20,095,440 shares of the real estate investment trust’s stock worth $598,844,000 after buying an additional 844,043 shares during the period. BlackRock Inc. grew its position in shares of 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 buying an additional 456,149 shares during the period. JPMorgan Chase & Co. grew its position in shares of LaSalle Hotel Properties by 15.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,277,805 shares of the real estate investment trust’s stock worth $197,590,000 after buying an additional 1,131,222 shares during the period. Morgan Stanley grew its position in shares of LaSalle Hotel Properties by 14.9% during the 1st quarter. Morgan Stanley now owns 6,976,863 shares of the real estate investment trust’s stock worth $201,980,000 after buying an additional 902,406 shares during the period. Finally, Lasalle Investment Management Securities LLC grew its position in shares of LaSalle Hotel Properties by 1.9% during the 4th quarter. Lasalle Investment Management Securities LLC now owns 6,959,837 shares of the real estate investment trust’s stock worth $175,110,000 after buying an additional 129,812 shares during the period.

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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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Analyst Recommendations for LaSalle Hotel Properties (NYSE:LHO)

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