ValuEngine downgraded shares of LaSalle Hotel Properties (NYSE:LHO) from a buy rating to a hold rating in a report published on Friday.
Other equities analysts also recently issued research reports about the stock. Barclays reissued a hold rating and set a $39.00 target price on shares of LaSalle Hotel Properties in a research note on Sunday, September 9th. Zacks Investment Research downgraded shares of LaSalle Hotel Properties from a buy rating to a hold rating in a research note on Tuesday, July 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of LaSalle Hotel Properties from $29.00 to $30.00 and gave the stock a neutral rating in a research note on Friday, August 10th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $29.54.
Shares of NYSE:LHO traded down $0.28 during mid-day trading on Friday, reaching $31.76. 2,234,896 shares of the company’s stock were exchanged, compared to its average volume of 1,939,856. The firm has a market cap of $3.82 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 3.03 and a beta of 1.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.86 and a current ratio of 1.86. LaSalle Hotel Properties has a twelve month low of $24.10 and a twelve month high of $36.13.
LaSalle Hotel Properties (NYSE:LHO) last announced its earnings results on Thursday, August 9th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.49). LaSalle Hotel Properties had a return on equity of 3.31% and a net margin of 7.08%. The firm had revenue of $304.60 million for the quarter, compared to the consensus estimate of $300.86 million. During the same period in the prior year, the business earned $0.81 EPS. LaSalle Hotel Properties’s quarterly revenue was down .8% on a year-over-year basis. Sell-side analysts forecast that LaSalle Hotel Properties will post 2.28 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. increased its stake in LaSalle Hotel Properties by 1,209.1% in the second quarter. Meeder Asset Management Inc. now owns 3,325 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 3,071 shares in the last quarter. Mint Tower Capital Management B.V. bought a new stake in LaSalle Hotel Properties in the second quarter valued at $137,000. Qube Research & Technologies Ltd bought a new stake in LaSalle Hotel Properties in the second quarter valued at $141,000. Point72 Hong Kong Ltd bought a new stake in LaSalle Hotel Properties in the second quarter valued at $149,000. Finally, Dupont Capital Management Corp bought a new stake in LaSalle Hotel Properties in the second quarter valued at $183,000. 97.90% of the stock is owned by hedge funds and other institutional investors.
About LaSalle Hotel Properties
LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns 41 properties, which are upscale, full-service hotels, totaling 10,452 guest rooms in 11 markets in seven states and the District of Columbia. The Company focuses on owning, redeveloping and repositioning upscale, full-service hotels located in urban, resort and convention markets.
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