Citigroup Inc. reissued their hold rating on shares of LaSalle Hotel Properties (NYSE:LHO) in a report published on Wednesday morning. They currently have a $24.00 price objective on the real estate investment trust’s stock.
Other equities analysts have also recently issued research reports about the stock. Deutsche Bank AG restated a hold rating on shares of LaSalle Hotel Properties in a research note on Sunday, June 26th. TheStreet upgraded shares of LaSalle Hotel Properties from a hold rating to a buy rating in a research note on Monday, July 18th. Zacks Investment Research cut shares of LaSalle Hotel Properties from a hold rating to a sell rating in a research note on Thursday, July 21st. Credit Suisse Group AG cut shares of LaSalle Hotel Properties from an outperform rating to a neutral rating and dropped their price objective for the company from $26.00 to $25.00 in a research note on Thursday, July 21st. Finally, Barclays PLC set a $25.00 price objective on shares of LaSalle Hotel Properties and gave the company a sell rating in a research note on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $26.85.
LaSalle Hotel Properties (NYSE:LHO) opened at 23.75 on Wednesday. The stock has a 50 day moving average of $25.94 and a 200 day moving average of $24.97. LaSalle Hotel Properties has a 12-month low of $19.01 and a 12-month high of $32.10. The firm has a market capitalization of $2.69 billion, a price-to-earnings ratio of 20.83 and a beta of 1.35.
LaSalle Hotel Properties (NYSE:LHO) last released its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.95 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.95. The firm earned $351.10 million during the quarter, compared to analysts’ expectations of $344.43 million. LaSalle Hotel Properties had a net margin of 11.54% and a return on equity of 6.51%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 EPS. Equities research analysts anticipate that LaSalle Hotel Properties will post $2.93 earnings per share for the current year.
The business also recently disclosed 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 dividend on an annualized basis and a yield of 7.57%. The ex-dividend date of this dividend is Wednesday, September 28th. LaSalle Hotel Properties’s dividend payout ratio is currently 157.90%.
In other LaSalle Hotel Properties news, insider Michael D. Barnello sold 150,000 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $28.49, for a total transaction of $4,273,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Alfred L. Young sold 17,000 shares of the company’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $28.11, for a total transaction of $477,870.00. Following the transaction, the chief operating officer now owns 90,024 shares in the company, valued at $2,530,574.64. 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 added to or reduced their stakes in the stock. Mizuho Asset Management Co. Ltd. acquired a new position in LaSalle Hotel Properties during the second quarter worth about $111,000. Hillsdale Investment Management Inc. acquired a new position in LaSalle Hotel Properties during the second quarter worth about $116,000. Fuller & Thaler Asset Management Inc. acquired a new position in LaSalle Hotel Properties during the second quarter worth about $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 during 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 during the last quarter.
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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