Analysts Expect LaSalle Hotel Properties (LHO) Will Post Quarterly Sales of $261.46 Million
Analysts expect LaSalle Hotel Properties (NYSE:LHO) to post sales of $261.46 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for LaSalle Hotel Properties’ earnings. The lowest sales estimate is $250.71 million and the highest is $271.01 million. LaSalle Hotel Properties reported sales of $289.49 million during the same quarter last year, which would suggest a negative year over year growth rate of 9.7%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 28th.
On average, analysts expect that LaSalle Hotel Properties will report full year sales of $261.46 million for the current year, with estimates ranging from $1.10 billion to $1.12 billion. For the next financial year, analysts forecast that the firm will report sales of $1.08 billion per share, with estimates ranging from $1.06 billion to $1.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover LaSalle Hotel Properties.
LaSalle Hotel Properties (NYSE:LHO) last posted 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 return on equity of 8.31% and a net margin of 18.10%. The company had revenue of $285.90 million during the quarter, compared to the consensus estimate of $295.02 million. During the same quarter in the prior year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis.
In other LaSalle Hotel Properties news, COO Alfred L. Young sold 17,750 shares of LaSalle Hotel Properties stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $28.28, for a total value of $501,970.00. Following the sale, the chief operating officer now owns 88,808 shares of the company’s stock, valued at approximately $2,511,490.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.38% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LHO. Brookfield Asset Management Inc. acquired a new stake in shares of LaSalle Hotel Properties in the 2nd quarter valued at about $72,146,000. Bank of New York Mellon Corp raised its stake in shares of LaSalle Hotel Properties by 65.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,147,536 shares of the real estate investment trust’s stock valued at $120,362,000 after purchasing an additional 1,635,160 shares during the period. Principal Financial Group Inc. raised its stake in shares of LaSalle Hotel Properties by 116.0% in the 2nd quarter. Principal Financial Group Inc. now owns 2,453,209 shares of the real estate investment trust’s stock valued at $73,105,000 after purchasing an additional 1,317,472 shares during the period. Vanguard Group Inc. raised its stake in shares of LaSalle Hotel Properties by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 20,095,440 shares of the real estate investment trust’s stock valued at $598,844,000 after purchasing an additional 844,043 shares during the period. Finally, William Blair Investment Management LLC acquired a new stake in shares of LaSalle Hotel Properties in the 2nd quarter valued at about $22,454,000.
LaSalle Hotel Properties (NYSE LHO) opened at $28.05 on Friday. LaSalle Hotel Properties has a 12-month low of $27.44 and a 12-month high of $31.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.22 and a quick ratio of 3.22. The stock has a market capitalization of $3,176.16, a price-to-earnings ratio of 10.96, a PEG ratio of 2.28 and a beta of 1.11.
WARNING: “Analysts Expect LaSalle Hotel Properties (LHO) Will Post Quarterly Sales of $261.46 Million” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this report on another publication, it was illegally stolen and republished in violation of United States & international copyright law. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/12/10/analysts-expect-lasalle-hotel-properties-lho-will-post-quarterly-sales-of-261-46-million.html.
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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for LaSalle Hotel Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LaSalle Hotel Properties and related stocks with our FREE daily email newsletter.