The LaSalle Hotel Properties (LHO) Receives $26.83 Average Price Target from Brokerages

The LaSalle Hotel Properties (LHO) Receives $26.83 Average Price Target from Brokerages

Shares of LaSalle Hotel Properties (NYSE:LHO) have been assigned an average recommendation of “Hold” from the twenty brokerages that are covering the firm. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $27.23.

LHO has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Tuesday. Instinet initiated coverage on shares of LaSalle Hotel Properties in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $31.00 target price for the company. Stifel Nicolaus upped their target price on shares of LaSalle Hotel Properties from $26.00 to $28.50 and gave the stock a “hold” rating in a research note on Friday, January 6th. Nomura initiated coverage on shares of LaSalle Hotel Properties in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $31.00 target price for the company. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $28.00 target price (up previously from $25.00) on shares of LaSalle Hotel Properties in a research note on Friday, December 23rd.

Large investors have recently made changes to their positions in the company. Brookfield Asset Management Inc. purchased a new stake in shares of LaSalle Hotel Properties during the third quarter worth about $95,793,000. D.A. Davidson & CO. boosted its position in LaSalle Hotel Properties by 1.3% in the third quarter. D.A. Davidson & CO. now owns 8,559 shares of the real estate investment trust’s stock valued at $203,000 after buying an additional 113 shares during the period. Cornerstone Capital Management Holdings LLC. bought a new position in LaSalle Hotel Properties during the third quarter valued at $100,000. Credit Suisse AG boosted its position in LaSalle Hotel Properties by 16.0% in the third quarter. Credit Suisse AG now owns 510,769 shares of the real estate investment trust’s stock valued at $12,192,000 after buying an additional 70,570 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its position in LaSalle Hotel Properties by 66.9% in the third quarter. Ameritas Investment Partners Inc. now owns 43,715 shares of the real estate investment trust’s stock valued at $1,043,000 after buying an additional 17,521 shares during the period.

LaSalle Hotel Properties (NYSE:LHO) opened at 30.02 on Thursday. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 14.36 and a beta of 1.22. The company’s 50-day moving average is $30.18 and its 200-day moving average is $26.91. LaSalle Hotel Properties has a 52-week low of $20.31 and a 52-week high of $31.66.

LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings results on Wednesday, October 19th. The real estate investment trust reported $0.84 EPS for the quarter, missing the Zacks’ consensus estimate of $0.87 by $0.03. The business had revenue of $326.90 million for the quarter, compared to the consensus estimate of $328.95 million. LaSalle Hotel Properties had a net margin of 20.49% and a return on equity of 10.61%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 EPS. On average, analysts expect that LaSalle Hotel Properties will post $2.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 17th. Stockholders of record on Friday, December 30th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date of this dividend was Wednesday, December 28th. LaSalle Hotel Properties’s payout ratio is 86.12%.

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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