LaSalle Hotel Properties (NYSE:LHO) had its price objective lowered by Citigroup Inc. from $29.00 to $26.50 in a research report report published on Wednesday, October 25th. Citigroup Inc. currently has a neutral rating on the real estate investment trust’s stock.
Several other brokerages have also weighed in on LHO. Boenning Scattergood set a $35.00 target price on LaSalle Hotel Properties and gave the stock a buy rating in a research report on Tuesday, June 27th. Stifel Nicolaus reaffirmed a hold rating on shares of LaSalle Hotel Properties in a research report on Tuesday, October 17th. Zacks Investment Research raised LaSalle Hotel Properties from a sell rating to a hold rating in a research report on Wednesday, October 18th. Goldman Sachs Group, Inc. (The) lowered LaSalle Hotel Properties from a neutral rating to a sell rating and cut their target price for the stock from $25.00 to $24.00 in a research report on Wednesday, August 2nd. Finally, Deutsche Bank AG cut their price objective on LaSalle Hotel Properties from $28.00 to $27.00 and set a hold rating on the stock in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $29.00.
Shares of LaSalle Hotel Properties (LHO) traded down $0.07 on Wednesday, hitting $28.52. The company had a trading volume of 890,300 shares, compared to its average volume of 1,290,269. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3,238.43, a price-to-earnings ratio of 11.17, a P/E/G ratio of 2.32 and a beta of 1.12. LaSalle Hotel Properties has a twelve month low of $25.44 and a twelve month high of $31.87.
LaSalle Hotel Properties (NYSE:LHO) last issued its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.46). The firm had revenue of $285.90 million during the quarter, compared to analysts’ expectations of $295.02 million. LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The company’s quarterly revenue was down 12.5% compared to the same quarter last year. During the same period last year, the business posted $0.84 earnings per share. equities research analysts forecast that LaSalle Hotel Properties will post 2.46 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.80 annualized dividend and a dividend yield of 6.31%. LaSalle Hotel Properties’s dividend payout ratio is presently 111.11%.
Several institutional investors have recently made changes to their positions in LHO. BlackRock Inc. grew its stake in shares of LaSalle Hotel Properties by 6,612.1% during the first quarter. BlackRock Inc. now owns 14,418,107 shares of the real estate investment trust’s stock valued at $417,404,000 after acquiring an additional 14,203,299 shares in the last quarter. Brookfield Asset Management Inc. acquired a new stake in shares of LaSalle Hotel Properties during the second quarter valued at about $72,146,000. Bank of New York Mellon Corp grew its stake in shares of LaSalle Hotel Properties by 65.1% during the third quarter. Bank of New York Mellon Corp now owns 4,147,536 shares of the real estate investment trust’s stock valued at $120,362,000 after acquiring an additional 1,635,160 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of LaSalle Hotel Properties by 116.0% during the second quarter. Principal Financial Group Inc. now owns 2,453,209 shares of the real estate investment trust’s stock valued at $73,105,000 after acquiring an additional 1,317,472 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of LaSalle Hotel Properties by 4.4% during the second quarter. Vanguard Group Inc. now owns 20,095,440 shares of the real estate investment trust’s stock valued at $598,844,000 after acquiring an additional 844,043 shares in the last quarter.
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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