LaSalle Hotel Properties (NYSE:LHO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
Several other analysts also recently weighed in on LHO. Goldman Sachs Group, Inc. (The) downgraded LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and cut their price target for the stock from $25.00 to $24.00 in a research note on Wednesday, August 2nd. BidaskClub downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Boenning Scattergood downgraded LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 24th. Robert W. Baird set a $31.00 price target on LaSalle Hotel Properties and gave the stock a “hold” rating in a research note on Friday, August 25th. Finally, Deutsche Bank AG cut their price target on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, July 21st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $28.88.
Shares of LaSalle Hotel Properties (NYSE LHO) opened at 28.72 on Wednesday. The company’s 50-day moving average price is $28.35 and its 200-day moving average price is $29.10. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 10.68 and a beta of 1.17. LaSalle Hotel Properties has a one year low of $23.05 and a one year high of $31.87.
LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.82 by ($0.01). The company had revenue of $307.04 million during the quarter, compared to analysts’ expectations of $318.94 million. LaSalle Hotel Properties had a return on equity of 13.05% and a net margin of 27.85%. The business’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.95 EPS. On average, equities research analysts predict that LaSalle Hotel Properties will post $1.68 earnings per share for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Frontier Investment Mgmt Co. bought a new position in shares of LaSalle Hotel Properties during the 2nd quarter valued at $12,445,000. Brookfield Asset Management Inc. bought a new position in shares of LaSalle Hotel Properties during the 2nd quarter valued at $72,146,000. Navellier & Associates Inc bought a new position in shares of LaSalle Hotel Properties during the 2nd quarter valued at $413,000. Advisory Services Network LLC lifted its holdings in shares of LaSalle Hotel Properties by 4.3% during the 2nd quarter. Advisory Services Network LLC now owns 18,043 shares of the real estate investment trust’s stock valued at $538,000 after buying an additional 747 shares during the period. Finally, Koch Industries Inc. bought a new position in shares of LaSalle Hotel Properties during the 2nd quarter valued at $217,000.
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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