LaSalle Hotel Properties (LHO) Rating Reiterated by Citigroup Inc.
LaSalle Hotel Properties (NYSE:LHO)‘s stock had its “hold” rating restated by stock analysts at Citigroup Inc. in a report issued on Wednesday.
LHO has been the topic of several other research reports. Credit Suisse Group AG downgraded LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $26.00 to $25.00 in a report on Thursday, July 21st. BTIG Research started coverage on LaSalle Hotel Properties in a report on Thursday, August 25th. They set a “neutral” rating on the stock. TheStreet raised LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a report on Monday, July 18th. Zacks Investment Research downgraded LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. Finally, Barclays PLC set a $25.00 price objective on LaSalle Hotel Properties and gave the stock a “sell” rating in a report on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $27.08.
Shares of LaSalle Hotel Properties (NYSE:LHO) traded up 0.21% during mid-day trading on Wednesday, hitting $23.81. The stock had a trading volume of 343,271 shares. LaSalle Hotel Properties has a 12-month low of $19.01 and a 12-month high of $32.10. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 20.89 and a beta of 1.35. The stock’s 50-day moving average price is $26.07 and its 200-day moving average price is $24.98.
LaSalle Hotel Properties (NYSE:LHO) last announced its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. The business had revenue of $351.10 million for the quarter, compared to the consensus estimate of $344.43 million. LaSalle Hotel Properties had a return on equity of 6.51% and a net margin of 11.54%. LaSalle Hotel Properties’s revenue was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 EPS. On average, equities analysts anticipate that LaSalle Hotel Properties will post $2.93 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 7.58%. The ex-dividend date of this dividend is Wednesday, September 28th. LaSalle Hotel Properties’s payout ratio is presently 157.90%.
In related news, insider Michael D. Barnello sold 150,000 shares of the company’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $28.49, for a total value of $4,273,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Alfred L. Young sold 17,000 shares of the company’s stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $28.11, for a total transaction of $477,870.00. Following the completion of the transaction, the chief operating officer now directly owns 90,024 shares of the company’s stock, valued at $2,530,574.64. The disclosure for this sale can be found here. 0.54% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the company. Mizuho Asset Management Co. Ltd. bought a new position in shares of LaSalle Hotel Properties during the second quarter worth $111,000. Hillsdale Investment Management Inc. acquired a new position in LaSalle Hotel Properties during the second quarter worth approximately $116,000. Fuller & Thaler Asset Management Inc. acquired a new position in LaSalle Hotel Properties during the second quarter worth approximately $120,000. BlackRock Japan Co. Ltd increased its position in LaSalle Hotel Properties by 2.8% in the first quarter. BlackRock Japan Co. Ltd now owns 6,049 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 167 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in LaSalle Hotel Properties by 72.3% in the second quarter. LS Investment Advisors LLC now owns 6,766 shares of the real estate investment trust’s stock worth $160,000 after buying an additional 2,838 shares in the last quarter.
About LaSalle Hotel Properties
Lasalle Hotel Properties is a self-administered and self-managed real estate investment trust (REIT). The Company primarily buys, owns, redevelops and leases upscale and luxury hotels located in convention, resort and urban business markets. The Company owns interest in approximately 50 hotels with over 12,000 guest rooms located in approximately 10 states and the District of Columbia.
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