LaSalle Hotel Properties (LHO) Rating Reiterated by Morgan Stanley
LaSalle Hotel Properties (NYSE:LHO)‘s stock had its “equal weight” rating reaffirmed by analysts at Morgan Stanley in a research report issued to clients and investors on Tuesday. They currently have a $21.00 price target on the real estate investment trust’s stock, down from their prior price target of $22.00. Morgan Stanley’s price target points to a potential downside of 23.16% from the stock’s current price.
A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Tuesday, October 18th. Citigroup Inc. reiterated a “hold” rating and issued a $24.00 target price on shares of LaSalle Hotel Properties in a research note on Wednesday, October 5th. BTIG Research initiated coverage on shares of LaSalle Hotel Properties in a research note on Thursday, August 25th. They issued a “neutral” rating on the stock. TheStreet upgraded shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. Finally, Canaccord Genuity restated a “hold” rating and set a $25.00 price target on shares of LaSalle Hotel Properties in a research note on Thursday, October 20th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $25.09.
LaSalle Hotel Properties (NYSE:LHO) opened at 27.33 on Tuesday. LaSalle Hotel Properties has a 52 week low of $19.01 and a 52 week high of $29.10. The company has a 50-day moving average of $24.57 and a 200-day moving average of $25.00. The company has a market capitalization of $3.09 billion, a PE ratio of 13.08 and a beta of 1.14.
LaSalle Hotel Properties (NYSE:LHO) last released its earnings results on Wednesday, October 19th. The real estate investment trust reported $0.84 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.03. The company earned $326.90 million during the quarter, compared to analysts’ expectations of $328.95 million. LaSalle Hotel Properties had a net margin of 20.49% and a return on equity of 10.61%. The firm’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, equities research analysts anticipate that LaSalle Hotel Properties will post $2.89 EPS for the current year.
In other news, insider Michael D. Barnello sold 150,000 shares of the 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 SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in LHO. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of LaSalle Hotel Properties during the third quarter worth about $100,000. Riverhead Capital Management LLC boosted its stake in shares of LaSalle Hotel Properties by 5,013.6% in the third quarter. Riverhead Capital Management LLC now owns 4,500 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 4,412 shares during the period. Mizuho Asset Management Co. Ltd. acquired a new stake in shares of LaSalle Hotel Properties during the second quarter worth about $111,000. Hillsdale Investment Management Inc. acquired a new stake in shares of LaSalle Hotel Properties during the second quarter worth about $116,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new stake in shares of LaSalle Hotel Properties during the second quarter worth about $120,000.
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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