LaSalle Hotel Properties (NYSE:LHO) released its quarterly earnings results on Wednesday. The real estate investment trust reported $0.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.38, Bloomberg Earnings reports. The firm had revenue of $307.04 million during the quarter, compared to analyst estimates of $318.94 million. LaSalle Hotel Properties had a return on equity of 13.02% and a net margin of 26.61%. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS.
LaSalle Hotel Properties (LHO) traded up 0.72% during mid-day trading on Wednesday, reaching $30.75. The company’s stock had a trading volume of 839,927 shares. LaSalle Hotel Properties has a one year low of $23.05 and a one year high of $31.87. The stock’s 50 day moving average is $30.18 and its 200 day moving average is $29.58. The firm has a market cap of $3.48 billion, a PE ratio of 11.43 and a beta of 1.16.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a dividend of $0.45 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.80 annualized dividend and a yield of 5.85%. LaSalle Hotel Properties’s payout ratio is presently 66.91%.
In other news, COO Alfred L. Young sold 15,000 shares of LaSalle Hotel Properties stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $30.44, for a total transaction of $456,600.00. Following the sale, the chief operating officer now owns 100,027 shares in the company, valued at $3,044,821.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is currently owned by insiders.
Several research firms have recently commented on LHO. Boenning Scattergood set a $35.00 price target on LaSalle Hotel Properties and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Robert W. Baird reissued a “neutral” rating and issued a $31.00 price target (up from $30.00) on shares of LaSalle Hotel Properties in a research report on Friday, June 16th. BidaskClub raised LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research report on Tuesday, June 13th. Zacks Investment Research lowered LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, April 26th. Finally, Barclays PLC reissued an “underweight” rating and issued a $28.00 price target (up from $27.00) on shares of LaSalle Hotel Properties in a research report on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $28.96.
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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