Zacks Investment Research downgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a hold rating to a sell rating in a report published on Wednesday.
According to Zacks, “Lasalle Hotel Properties, which intends to operate as a real estate investment trust for federal income tax purposes, has been formed to own hotel properties and to continue and expand the hotel investment activities of LaSalle Partners Incorporated and certain of its affiliates collectively, LaSalle. LaSalle is an institutionally respected real estate services and investment firm which has extensive experience in the acquisition, investment management, finance, development and disposition of hotel properties. “
Other analysts also recently issued research reports about the company. BidaskClub raised LaSalle Hotel Properties from a hold rating to a buy rating in a research report on Tuesday, June 13th. Boenning Scattergood set a $35.00 target price on LaSalle Hotel Properties and gave the company a buy rating in a research report on Tuesday, June 27th. Robert W. Baird set a $31.00 target price on LaSalle Hotel Properties and gave the company a hold rating in a research report on Friday, August 25th. Deutsche Bank AG lowered their target price on LaSalle Hotel Properties from $28.00 to $27.00 and set a hold rating on the stock in a research report on Friday, July 21st. Finally, Goldman Sachs Group, Inc. (The) downgraded LaSalle Hotel Properties from a neutral rating to a sell rating and lowered their target price for the company from $25.00 to $24.00 in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $28.88.
LaSalle Hotel Properties (NYSE:LHO) last released its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.01). The company had revenue of $307.04 million during the quarter, compared to analyst estimates of $318.94 million. LaSalle Hotel Properties had a net margin of 27.85% and a return on equity of 13.05%. LaSalle Hotel Properties’s revenue was down 12.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS.
COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by Stock Observer and is the sole property of of Stock Observer. If you are reading this piece of content on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The legal version of this piece of content can be read at https://www.thestockobserver.com/2017/09/21/lasalle-hotel-properties-lho-downgraded-to-sell-at-zacks-investment-research.html.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 6.24%. The ex-dividend date is Thursday, September 28th. LaSalle Hotel Properties’s payout ratio is currently 66.91%.
A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in LaSalle Hotel Properties by 4.4% during the second quarter. Vanguard Group Inc. now owns 20,095,440 shares of the real estate investment trust’s stock worth $598,844,000 after purchasing an additional 844,043 shares during the period. BlackRock Inc. boosted its holdings in shares of LaSalle Hotel Properties by 3.2% during the second quarter. BlackRock Inc. now owns 14,874,256 shares of the real estate investment trust’s stock worth $443,254,000 after acquiring an additional 456,149 shares during the period. Morgan Stanley boosted its holdings in shares of LaSalle Hotel Properties by 14.9% during the first quarter. Morgan Stanley now owns 6,976,863 shares of the real estate investment trust’s stock worth $201,980,000 after acquiring an additional 902,406 shares during the period. Lasalle Investment Management Securities LLC boosted its holdings in shares of LaSalle Hotel Properties by 6.5% during the first quarter. Lasalle Investment Management Securities LLC now owns 6,370,014 shares of the real estate investment trust’s stock worth $184,412,000 after acquiring an additional 390,952 shares during the period. Finally, State Street Corp boosted its holdings in shares of LaSalle Hotel Properties by 3.4% during the second quarter. State Street Corp now owns 5,768,908 shares of the real estate investment trust’s stock worth $171,921,000 after acquiring an additional 189,034 shares during the period.
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).
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.