LaSalle Hotel Properties (LHO) Downgraded to Underperform at Evercore ISI

LaSalle Hotel Properties (NYSE:LHO) was downgraded by investment analysts at Evercore ISI from an “in-line” rating to an “underperform” rating in a research report issued to clients and investors on Monday, November 20th, Marketbeat reports. They currently have a $26.00 price objective on the real estate investment trust’s stock. Evercore ISI’s target price would suggest a potential downside of 7.87% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other brokerages also recently commented on LHO. Zacks Investment Research raised LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. Robert W. Baird set a $31.00 price target on LaSalle Hotel Properties and gave the stock a “hold” rating in a research report on Sunday, October 1st. Boenning Scattergood restated a “hold” rating on shares of LaSalle Hotel Properties in a research report on Monday, October 23rd. Wells Fargo & Company lowered their price objective on LaSalle Hotel Properties from $30.00 to $29.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 24th. Finally, BidaskClub cut LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.47.

Shares of LaSalle Hotel Properties (NYSE LHO) traded down $0.13 during trading on Monday, hitting $28.22. The stock had a trading volume of 1,931,845 shares, compared to its average volume of 1,282,421. The firm has a market cap of $3,195.40, a price-to-earnings ratio of 11.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.45. LaSalle Hotel Properties has a fifty-two week low of $27.44 and a fifty-two week high of $31.87.

LaSalle Hotel Properties (NYSE:LHO) last issued its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by ($0.46). LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The company had revenue of $285.90 million during the quarter, compared to the consensus estimate of $295.02 million. During the same period in the previous year, the business posted $0.84 earnings per share. The firm’s revenue was down 12.5% on a year-over-year basis. equities research 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 the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $28.28, for a total value of $501,970.00. Following the transaction, the chief operating officer now owns 88,808 shares of the company’s stock, valued at $2,511,490.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.38% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of LHO. Brookfield Asset Management Inc. bought a new stake in shares of LaSalle Hotel Properties during the second quarter worth $72,146,000. Bank of New York Mellon Corp raised its position 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 worth $120,362,000 after acquiring an additional 1,635,160 shares during the last quarter. Principal Financial Group Inc. raised its position 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 worth $73,105,000 after acquiring an additional 1,317,472 shares during the last quarter. Vanguard Group Inc. raised its position 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 worth $598,844,000 after acquiring an additional 844,043 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new stake in shares of LaSalle Hotel Properties during the second quarter worth $22,454,000.

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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).

Analyst Recommendations for LaSalle Hotel Properties (NYSE:LHO)

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