Analysts Set LaSalle Hotel Properties (NYSE:LHO) PT at $26.18
Shares of LaSalle Hotel Properties (NYSE:LHO) have earned an average rating of “Hold” from the nineteen ratings firms that are currently covering the company. Two research analysts have rated the stock with a sell recommendation, thirteen have assigned a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $25.91.
A number of equities analysts have commented on the stock. Citigroup Inc. reaffirmed a “hold” rating and set a $24.00 target price on shares of LaSalle Hotel Properties in a research note on Wednesday. Deutsche Bank AG reaffirmed a “hold” rating on shares of LaSalle Hotel Properties in a research note on Sunday, June 26th. Barclays PLC set a $25.00 target price on shares of LaSalle Hotel Properties and gave the stock a “sell” rating in a research note on Thursday, July 21st. Zacks Investment Research raised shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Finally, TheStreet raised shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research note on Monday, July 18th.
In other LaSalle Hotel Properties news, COO Alfred L. Young sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The shares were 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 owns 90,024 shares in the company, valued at approximately $2,530,574.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael D. Barnello sold 150,000 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $28.49, for a total transaction of $4,273,500.00. The disclosure for this sale can be found here. Company insiders own 0.54% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Mizuho Asset Management Co. Ltd. purchased a new position in LaSalle Hotel Properties during the second quarter valued at approximately $111,000. Hillsdale Investment Management Inc. bought a new position in shares of LaSalle Hotel Properties during the second quarter valued at about $116,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of LaSalle Hotel Properties during the second quarter valued at about $120,000. BlackRock Japan Co. Ltd boosted its position in shares of 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 valued at $153,000 after buying an additional 167 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its position in shares of 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 valued at $160,000 after buying an additional 2,838 shares during the last quarter.
Shares of LaSalle Hotel Properties (NYSE:LHO) opened at 23.77 on Monday. The company has a market cap of $2.69 billion, a price-to-earnings ratio of 20.85 and a beta of 1.35. LaSalle Hotel Properties has a 52-week low of $19.01 and a 52-week high of $32.10. The firm has a 50 day moving average price of $25.94 and a 200-day moving average price of $24.97.
LaSalle Hotel Properties (NYSE:LHO) last issued its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. LaSalle Hotel Properties had a net margin of 11.54% and a return on equity of 6.51%. The company had revenue of $351.10 million for the quarter, compared to the consensus estimate of $344.43 million. During the same period in the previous year, the firm earned $0.91 earnings per share. LaSalle Hotel Properties’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities research analysts anticipate that LaSalle Hotel Properties will post $2.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 7.57%. The ex-dividend date of this dividend is Wednesday, September 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 157.90%.
LaSalle Hotel Properties Company Profile
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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