LaSalle Hotel Properties (LHO) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a sell rating to a hold rating in a report published on Tuesday.

According to Zacks, “Lasalle Hotel Properties, which intends to operate as a real estate investment trust for federal income tax purposes, has been formed to own hotel properties and to continue and expand the hotel investment activities of LaSalle Partners Incorporated and certain of its affiliates collectively, LaSalle. LaSalle is an institutionally respected real estate services and investment firm which has extensive experience in the acquisition, investment management, finance, development and disposition of hotel properties. “

Several other research firms have also recently weighed in on LHO. Stifel Nicolaus reiterated a hold rating on shares of LaSalle Hotel Properties in a research note on Tuesday, October 17th. Goldman Sachs Group, Inc. (The) cut shares of LaSalle Hotel Properties from a neutral rating to a sell rating and reduced their target price for the company from $25.00 to $24.00 in a research note on Wednesday, August 2nd. Deutsche Bank AG reduced their target price on shares of LaSalle Hotel Properties from $28.00 to $27.00 and set a hold rating for the company in a research note on Friday, July 21st. BidaskClub cut shares of LaSalle Hotel Properties from a buy rating to a hold rating in a research note on Monday, July 24th. Finally, Robert W. Baird set a $31.00 target price on shares of LaSalle Hotel Properties and gave the company a hold rating in a research note on Sunday, October 1st. Three research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. The company has a consensus rating of Hold and an average target price of $29.00.

Shares of LaSalle Hotel Properties (LHO) traded up $0.23 during trading hours on Tuesday, hitting $28.47. The stock had a trading volume of 893,662 shares, compared to its average volume of 1,587,194. The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of 11.17 and a beta of 1.12.

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 the Thomson Reuters’ 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 business had revenue of $285.90 million during the quarter, compared to analyst estimates of $295.02 million. During the same period in the prior year, the business posted $0.84 earnings per share. The company’s revenue for the quarter was down 12.5% compared to the same quarter last year. analysts expect that LaSalle Hotel Properties will post 2.48 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.32%. The ex-dividend date of this dividend was Thursday, September 28th. LaSalle Hotel Properties’s dividend payout ratio is 111.11%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. First Mercantile Trust Co. lifted its stake in LaSalle Hotel Properties by 1.9% during the second quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 70 shares during the period. GAM Holding AG lifted its stake in LaSalle Hotel Properties by 3.7% during the second quarter. GAM Holding AG now owns 9,786 shares of the real estate investment trust’s stock worth $292,000 after purchasing an additional 347 shares during the period. IFP Advisors Inc lifted its stake in 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 worth $136,000 after purchasing an additional 592 shares during the period. Capstone Asset Management Co. lifted its stake in LaSalle Hotel Properties by 6.4% during the second quarter. Capstone Asset Management Co. now owns 11,385 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 680 shares during the period. Finally, Arizona State Retirement System lifted its stake in LaSalle Hotel Properties by 1.5% during 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.

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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