LaSalle Hotel Properties (NYSE:LHO) – Stock analysts at SunTrust Banks lowered their Q3 2017 earnings per share (EPS) estimates for LaSalle Hotel Properties in a research note issued to investors on Thursday. SunTrust Banks analyst P. Scholes now anticipates that the real estate investment trust will post earnings per share of $0.67 for the quarter, down from their previous estimate of $0.68. SunTrust Banks also issued estimates for LaSalle Hotel Properties’ FY2017 earnings at $2.47 EPS, Q1 2018 earnings at $0.30 EPS, Q3 2018 earnings at $0.66 EPS and FY2018 earnings at $2.25 EPS.
LaSalle Hotel Properties (NYSE:LHO) last released its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.01. LaSalle Hotel Properties had a return on equity of 13.05% and a net margin of 27.85%. The firm had revenue of $307.04 million during the quarter, compared to analysts’ expectations of $318.94 million. During the same period in the previous year, the firm posted $0.95 earnings per share. The firm’s revenue was down 12.5% on a year-over-year basis.
Several other research firms have also recently weighed in on LHO. Goldman Sachs Group, Inc. (The) assumed coverage on shares of LaSalle Hotel Properties in a research report on Monday, April 10th. They issued a “neutral” rating and a $27.00 price objective for the company. Boenning Scattergood reissued an “outperform” rating on shares of LaSalle Hotel Properties in a report on Wednesday, April 12th. Barclays PLC reissued an “underweight” rating and set a $28.00 target price (up previously from $27.00) on shares of LaSalle Hotel Properties in a research report on Sunday, April 23rd. Zacks Investment Research downgraded shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Finally, BidaskClub raised shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the stock. LaSalle Hotel Properties currently has an average rating of “Hold” and a consensus target price of $29.12.
Shares of LaSalle Hotel Properties (NYSE:LHO) opened at 29.31 on Monday. The stock has a market capitalization of $3.32 billion, a PE ratio of 10.90 and a beta of 1.16. The company’s 50-day moving average is $30.30 and its 200-day moving average is $29.56. LaSalle Hotel Properties has a 12 month low of $23.05 and a 12 month high of $31.87.
A number of hedge funds have recently bought and sold shares of the stock. First Citizens Bank & Trust Co. purchased a new position in shares of LaSalle Hotel Properties during the first quarter valued at about $295,000. James Investment Research Inc. purchased a new stake in LaSalle Hotel Properties during the first quarter valued at approximately $138,000. State of Alaska Department of Revenue boosted its stake in LaSalle Hotel Properties by 24.0% in the first quarter. State of Alaska Department of Revenue now owns 22,060 shares of the real estate investment trust’s stock valued at $637,000 after buying an additional 4,270 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in LaSalle Hotel Properties by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 28,500 shares of the real estate investment trust’s stock valued at $825,000 after buying an additional 500 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in LaSalle Hotel Properties during the first quarter valued at approximately $324,000.
In other news, COO Alfred L. Young sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $30.44, for a total value of $456,600.00. Following the completion of the sale, the chief operating officer now directly owns 100,027 shares in the company, valued at $3,044,821.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by corporate insiders.
The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.45 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.14%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 66.91%.
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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