LaSalle Hotel Properties (LHO) Cut to Sell at Citigroup

Citigroup lowered shares of LaSalle Hotel Properties (NYSE:LHO) from a neutral rating to a sell rating in a research report sent to investors on Thursday morning, MarketBeat Ratings reports. They currently have $25.00 price objective on the real estate investment trust’s stock.

A number of other brokerages have also issued reports on LHO. Zacks Investment Research upgraded shares of LaSalle Hotel Properties from a sell rating to a hold rating in a research note on Tuesday, October 31st. Robert W. Baird set a $31.00 price target on shares of LaSalle Hotel Properties and gave the stock a hold rating in a research note on Sunday, October 1st. ValuEngine lowered shares of LaSalle Hotel Properties from a buy rating to a hold rating in a research note on Thursday, November 30th. Boenning Scattergood reiterated a hold rating on shares of LaSalle Hotel Properties in a research note on Monday, October 23rd. Finally, Wells Fargo & Company lowered their target price on shares of LaSalle Hotel Properties from $30.00 to $29.00 and set a market perform rating for the company in a research note on Tuesday, October 24th. Seven analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. LaSalle Hotel Properties currently has a consensus rating of Hold and a consensus target price of $27.96.

Shares of LaSalle Hotel Properties (LHO) opened at $28.55 on Thursday. 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 $3,232.77, a price-to-earnings ratio of 11.15, a P/E/G ratio of 2.32 and a beta of 1.11. LaSalle Hotel Properties has a 12 month low of $27.44 and a 12 month high of $31.87.

LaSalle Hotel Properties (NYSE:LHO) last issued its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.46). The company had revenue of $285.90 million during the quarter, compared to the consensus estimate of $295.02 million. LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. analysts expect that LaSalle Hotel Properties will post 2.46 EPS for the current year.

In other news, COO Alfred L. Young sold 17,750 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total transaction of $501,970.00. Following the completion of the transaction, the chief operating officer now owns 88,808 shares of the company’s stock, valued at $2,511,490.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.38% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in LHO. World Asset Management Inc acquired a new position in shares of LaSalle Hotel Properties during the second quarter valued at $214,000. Sei Investments Co. boosted its holdings in shares of LaSalle Hotel Properties by 21.1% during the second quarter. Sei Investments Co. now owns 115,794 shares of the real estate investment trust’s stock valued at $3,451,000 after acquiring an additional 20,151 shares during the period. IFP Advisors Inc boosted its holdings in shares of LaSalle Hotel Properties by 14.9% during the second quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock valued at $136,000 after acquiring an additional 592 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of LaSalle Hotel Properties by 12.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,431,318 shares of the real estate investment trust’s stock valued at $42,654,000 after acquiring an additional 154,294 shares during the period. Finally, Arizona State Retirement System lifted its holdings in LaSalle Hotel Properties by 1.5% in the second quarter. Arizona State Retirement System now owns 47,700 shares of the real estate investment trust’s stock worth $1,421,000 after purchasing an additional 700 shares during the period.

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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).

Analyst Recommendations for LaSalle Hotel Properties (NYSE:LHO)

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