Zacks Investment Research Lowers LaSalle Hotel Properties (LHO) to Hold

LaSalle Hotel Properties (NYSE:LHO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.

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. “

LHO has been the subject of a number of other reports. Stifel Nicolaus reiterated a “hold” rating on shares of LaSalle Hotel Properties in a research note on Tuesday, October 17th. UBS Group cut shares of LaSalle Hotel Properties from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. TheStreet cut shares of LaSalle Hotel Properties from a “b” rating to a “c+” rating in a research note on Friday, October 20th. Citigroup decreased their price objective on shares of LaSalle Hotel Properties from $29.00 to $26.50 and set a “neutral” rating for the company in a research note on Wednesday, October 25th. Finally, Raymond James Financial restated a “market perform” rating on shares of LaSalle Hotel Properties in a research note on Monday, October 30th. Eight equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $27.83.

Shares of LaSalle Hotel Properties (NYSE:LHO) opened at $29.55 on Thursday. The company has a market cap of $3,274.66, a P/E ratio of 18.24, a P/E/G ratio of 2.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.22 and a quick ratio of 3.22. LaSalle Hotel Properties has a 12 month low of $27.44 and a 12 month high of $31.87.

LaSalle Hotel Properties (NYSE:LHO) last released its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.46). The company had revenue of $285.90 million during the quarter, compared to analyst estimates of $295.02 million. LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same quarter last year, the business earned $0.84 earnings per share. analysts anticipate that LaSalle Hotel Properties will post 2.46 earnings per share for the current fiscal year.

In other news, COO Alfred L. Young sold 17,750 shares of LaSalle Hotel Properties stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total transaction of $501,970.00. Following the completion of the transaction, the chief operating officer now directly owns 88,808 shares of the company’s stock, valued at approximately $2,511,490.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.38% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. Advisory Services Network LLC increased its holdings in shares of LaSalle Hotel Properties by 4.3% during the 2nd quarter. Advisory Services Network LLC now owns 18,043 shares of the real estate investment trust’s stock valued at $538,000 after purchasing an additional 747 shares in the last quarter. Amalgamated Bank increased its holdings in shares of LaSalle Hotel Properties by 7.0% during the 2nd quarter. Amalgamated Bank now owns 16,151 shares of the real estate investment trust’s stock valued at $481,000 after purchasing an additional 1,063 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of LaSalle Hotel Properties by 1.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 91,510 shares of the real estate investment trust’s stock valued at $2,727,000 after purchasing an additional 1,261 shares in the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of LaSalle Hotel Properties by 3.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 43,876 shares of the real estate investment trust’s stock valued at $1,308,000 after purchasing an additional 1,329 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of LaSalle Hotel Properties by 7.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,838 shares of the real estate investment trust’s stock valued at $721,000 after purchasing an additional 1,778 shares in the last quarter.

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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).

Analyst Recommendations for LaSalle Hotel Properties (NYSE:LHO)

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