Stifel Nicolaus reissued their hold rating on shares of LaSalle Hotel Properties (NYSE:LHO) in a report issued on Monday morning. The brokerage currently has a $30.50 price target on the real estate investment trust’s stock.
Several other brokerages also recently issued reports on LHO. Zacks Investment Research downgraded shares of LaSalle Hotel Properties from a buy rating to a hold rating in a report on Saturday, January 27th. Robert W. Baird set a $30.00 price target on shares of LaSalle Hotel Properties and gave the company a buy rating in a report on Tuesday, April 3rd. Bank of America downgraded shares of LaSalle Hotel Properties from a neutral rating to an underperform rating in a report on Monday, January 8th. ValuEngine downgraded shares of LaSalle Hotel Properties from a buy rating to a hold rating in a report on Wednesday, April 11th. Finally, Boenning Scattergood raised shares of LaSalle Hotel Properties from an under perform rating to a neutral rating in a report on Thursday, March 29th. Eight analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the stock. LaSalle Hotel Properties presently has an average rating of Hold and an average target price of $27.35.
Shares of NYSE LHO opened at $30.89 on Monday. LaSalle Hotel Properties has a 12-month low of $24.10 and a 12-month high of $31.75. The stock has a market capitalization of $3,524.07, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 2.96 and a beta of 1.12. The company has a current ratio of 3.30, a quick ratio of 3.30 and a debt-to-equity ratio of 0.45.
LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings results on Tuesday, February 20th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.39). LaSalle Hotel Properties had a net margin of 17.65% and a return on equity of 8.11%. The business had revenue of $257.51 million during the quarter, compared to analysts’ expectations of $261.42 million. equities analysts predict that LaSalle Hotel Properties will post 2.1 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Thursday, March 29th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date of this dividend was Wednesday, March 28th. LaSalle Hotel Properties’s dividend payout ratio is presently 72.87%.
In related news, CEO Michael D. Barnello purchased 19,398 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was purchased at an average price of $24.65 per share, with a total value of $478,160.70. Following the completion of the transaction, the chief executive officer now owns 183,221 shares of the company’s stock, valued at approximately $4,516,397.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.38% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Assetmark Inc. increased its position in LaSalle Hotel Properties by 4,082.5% during the fourth quarter. Assetmark Inc. now owns 4,057 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 3,960 shares during the last quarter. Xact Kapitalforvaltning AB acquired a new position in LaSalle Hotel Properties during the fourth quarter worth approximately $267,000. Elkfork Partners LLC acquired a new position in LaSalle Hotel Properties during the fourth quarter worth approximately $285,000. Ladenburg Thalmann Financial Services Inc. increased its position in LaSalle Hotel Properties by 58.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,766 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 3,956 shares during the last quarter. Finally, Eqis Capital Management Inc. increased its position in LaSalle Hotel Properties by 27.1% during the fourth quarter. Eqis Capital Management Inc. now owns 11,810 shares of the real estate investment trust’s stock worth $332,000 after purchasing an additional 2,521 shares during the last quarter.
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LaSalle Hotel Properties Company Profile
LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns 41 properties, which are upscale, full-service hotels, totaling approximately 10,400 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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