$261.42 Million in Sales Expected for LaSalle Hotel Properties (LHO) This Quarter
Equities analysts expect LaSalle Hotel Properties (NYSE:LHO) to post sales of $261.42 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 $251.38 million and the highest is $270.00 million. LaSalle Hotel Properties posted sales of $289.49 million during the same quarter last year, which suggests a negative year over year growth rate of 9.7%. The firm is expected to report its next earnings results after the market closes on Tuesday, February 20th.
According to Zacks, analysts expect that LaSalle Hotel Properties will report full-year sales of $261.42 million for the current year, with estimates ranging from $1.10 billion to $1.12 billion. For the next fiscal year, analysts forecast that the firm will post sales of $1.08 billion per share, with estimates ranging from $1.06 billion to $1.12 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow LaSalle Hotel Properties.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Saturday, January 27th. Bank of America lowered shares of LaSalle Hotel Properties from a “neutral” rating to an “underperform” rating in a research report on Monday, January 8th. Citigroup lowered shares of LaSalle Hotel Properties from a “neutral” rating to a “sell” rating and set a $25.00 target price on the stock. in a research report on Thursday, December 14th. Boenning Scattergood lowered shares of LaSalle Hotel Properties from a “neutral” rating to an “under perform” rating in a research report on Friday, December 8th. Finally, ValuEngine lowered shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Thursday, November 30th. Eight investment analysts have rated the stock with a sell rating and nine have given a hold rating to the company. LaSalle Hotel Properties currently has an average rating of “Hold” and an average price target of $28.00.
In related news, COO Alfred L. Young sold 17,750 shares of LaSalle Hotel Properties stock in a transaction 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 transaction, the chief operating officer now directly owns 88,808 shares in the company, valued at approximately $2,511,490.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.38% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in LaSalle Hotel Properties by 54.7% in the 4th quarter. Bank of New York Mellon Corp now owns 6,417,138 shares of the real estate investment trust’s stock valued at $180,130,000 after purchasing an additional 2,269,602 shares during the last quarter. Long Pond Capital LP bought a new stake in shares of LaSalle Hotel Properties in the 4th quarter worth approximately $162,260,000. State Street Corp lifted its position in shares of LaSalle Hotel Properties by 3.4% during the 2nd quarter. State Street Corp now owns 5,768,908 shares of the real estate investment trust’s stock worth $171,921,000 after buying an additional 189,034 shares during the period. Principal Financial Group Inc. lifted its position in shares of LaSalle Hotel Properties by 1.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,483,070 shares of the real estate investment trust’s stock worth $72,059,000 after buying an additional 29,861 shares during the period. Finally, Brookfield Asset Management Inc. bought a new position in shares of LaSalle Hotel Properties during the 2nd quarter worth approximately $72,146,000.
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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