Bank of America Lowers LaSalle Hotel Properties (LHO) to Underperform

Bank of America downgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a neutral rating to an underperform rating in a research report released on Monday, MarketBeat.com reports.

A number of other brokerages have also recently weighed in on LHO. Zacks Investment Research upgraded shares of 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 shares of LaSalle Hotel Properties and gave the company a hold rating in a research report on Sunday, October 1st. ValuEngine cut shares of LaSalle Hotel Properties from a buy rating to a hold rating in a research report on Thursday, November 30th. Boenning Scattergood reiterated a hold rating on shares of LaSalle Hotel Properties in a research report on Monday, October 23rd. Finally, Wells Fargo & Co dropped their price target on shares of LaSalle Hotel Properties from $30.00 to $29.00 and set a market perform rating for the company in a research report on Tuesday, October 24th. Eight research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. LaSalle Hotel Properties presently has a consensus rating of Hold and an average target price of $27.83.

LaSalle Hotel Properties (NYSE:LHO) traded up $0.01 during trading on Monday, reaching $28.40. 1,155,700 shares of the company traded hands, compared to its average volume of 1,076,088. LaSalle Hotel Properties has a 52-week low of $27.44 and a 52-week high of $31.87. The firm has a market capitalization of $3,210.00, a PE ratio of 17.53, a P/E/G ratio of 2.42 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 (NYSE:LHO) last announced its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $295.02 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. LaSalle Hotel Properties’s revenue was down 12.5% on a year-over-year basis. research analysts anticipate that LaSalle Hotel Properties will post 2.46 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.34%. The ex-dividend date of this dividend is Thursday, December 28th. LaSalle Hotel Properties’s payout ratio is 111.11%.

In other news, COO Alfred L. Young sold 17,750 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of LaSalle Hotel Properties in the third quarter valued at approximately $174,000. Fox Run Management L.L.C. purchased a new position in shares of LaSalle Hotel Properties in the third quarter valued at approximately $212,000. Riverhead Capital Management LLC boosted its stake in shares of LaSalle Hotel Properties by 67.2% in the second quarter. Riverhead Capital Management LLC now owns 7,690 shares of the real estate investment trust’s stock valued at $229,000 after purchasing an additional 3,090 shares during the period. Flinton Capital Management LLC boosted its stake in shares of LaSalle Hotel Properties by 67.0% in the second quarter. Flinton Capital Management LLC now owns 8,512 shares of the real estate investment trust’s stock valued at $254,000 after purchasing an additional 3,416 shares during the period. Finally, QCM Cayman Ltd. purchased a new position in shares of LaSalle Hotel Properties in the second quarter valued at approximately $254,000.

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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).

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