LaSalle Hotel Properties (NYSE:LHO)‘s stock had its “hold” rating restated by equities research analysts at Stifel Nicolaus in a research report issued to clients and investors on Monday. They presently have a $30.50 price objective on the real estate investment trust’s stock. Stifel Nicolaus’ price objective would indicate a potential downside of 2.34% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research note on Tuesday, January 9th. ValuEngine upgraded shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research note on Wednesday, March 28th. Robert W. Baird set a $30.00 target price on shares of LaSalle Hotel Properties and gave the company a “buy” rating in a research note on Tuesday, April 3rd. Morgan Stanley reiterated an “equal weight” rating and issued a $24.00 target price (down previously from $27.00) on shares of LaSalle Hotel Properties in a research note on Thursday, February 22nd. Finally, Deutsche Bank reduced their target price on shares of LaSalle Hotel Properties from $28.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, February 22nd. Eight investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $27.35.
LHO stock opened at $31.23 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.30 and a quick ratio of 3.30. LaSalle Hotel Properties has a 52-week low of $24.10 and a 52-week high of $31.75. The stock has a market cap of $3,389.36, a price-to-earnings ratio of 12.64, a PEG ratio of 2.85 and a beta of 1.11.
In other LaSalle Hotel Properties news, CEO Michael D. Barnello purchased 19,398 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was purchased at an average price of $24.65 per share, with a total value of $478,160.70. Following the completion of the transaction, the chief executive officer now directly owns 183,221 shares of the company’s stock, valued at approximately $4,516,397.65. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.43% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Assetmark Inc. raised its position in LaSalle Hotel Properties by 4,082.5% in the fourth quarter. Assetmark Inc. now owns 4,057 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 3,960 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in LaSalle Hotel Properties in the fourth quarter worth about $267,000. Elkfork Partners LLC acquired a new position in LaSalle Hotel Properties in the fourth quarter worth about $285,000. Ladenburg Thalmann Financial Services Inc. raised its position in LaSalle Hotel Properties by 58.1% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,766 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 3,956 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its holdings in shares of LaSalle Hotel Properties by 27.1% during the fourth quarter. Eqis Capital Management Inc. now owns 11,810 shares of the real estate investment trust’s stock worth $332,000 after buying an additional 2,521 shares in the last quarter.
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About LaSalle Hotel Properties
LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns 41 properties, which are upscale, full-service hotels, totaling approximately 10,400 guest rooms in 11 markets in seven states and the District of Columbia. The Company focuses on owning, redeveloping and repositioning upscale, full-service hotels located in urban, resort and convention markets.
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