LaSalle Hotel Properties (NYSE:LHO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued 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. “
A number of other equities research analysts have also commented on the stock. Bank of America lowered shares of LaSalle Hotel Properties from a “neutral” rating to an “underperform” rating in a report on Monday. Citigroup lowered shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and set a $25.00 price objective on the stock. in a report on Thursday, December 14th. Boenning Scattergood lowered shares of LaSalle Hotel Properties from a “neutral” rating to an “under perform” rating in a report on Friday, December 8th. ValuEngine lowered shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a report on Thursday, November 30th. Finally, Evercore ISI lowered shares of LaSalle Hotel Properties from an “in-line” rating to an “underperform” rating and set a $26.00 price target on the stock. in a research note on Monday, November 20th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. LaSalle Hotel Properties presently has a consensus rating of “Hold” and a consensus price target of $27.83.
Shares of LaSalle Hotel Properties (LHO) opened at $28.39 on Thursday. LaSalle Hotel Properties has a twelve month low of $27.44 and a twelve month high of $31.87. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.45. The company has a market cap of $3,210.00, a price-to-earnings ratio of 17.52, a P/E/G ratio of 2.42 and a beta of 1.11.
LaSalle Hotel Properties (NYSE:LHO) last issued its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.46). LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The company had revenue of $285.90 million for the quarter, compared to analyst estimates of $295.02 million. During the same quarter in the previous year, the business earned $0.84 earnings per share. The company’s revenue was down 12.5% on a year-over-year basis. analysts predict that LaSalle Hotel Properties will post 2.46 EPS for the current year.
In other LaSalle Hotel Properties news, COO Alfred L. Young sold 17,750 shares of LaSalle Hotel Properties stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total value of $501,970.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in LaSalle Hotel Properties in the 3rd quarter valued at $174,000. Fox Run Management L.L.C. bought a new position in shares of LaSalle Hotel Properties in the 3rd quarter valued at about $212,000. Riverhead Capital Management LLC grew its position in shares of LaSalle Hotel Properties by 67.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 7,690 shares of the real estate investment trust’s stock valued at $229,000 after acquiring an additional 3,090 shares during the period. Flinton Capital Management LLC grew its position in shares of LaSalle Hotel Properties by 67.0% in the 2nd quarter. Flinton Capital Management LLC now owns 8,512 shares of the real estate investment trust’s stock valued at $254,000 after acquiring an additional 3,416 shares during the period. Finally, QCM Cayman Ltd. bought a new position in shares of LaSalle Hotel Properties in the 2nd quarter valued at about $254,000.
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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