Shares of LaSalle Hotel Properties (NYSE:LHO) have received an average rating of “Hold” from the nineteen ratings firms that are covering the company. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $25.91.
A number of equities research analysts have issued reports on the company. Credit Suisse Group AG cut LaSalle Hotel Properties from an “outperform” rating to a “neutral” rating and cut their target price for the company from $26.00 to $25.00 in a research note on Thursday, July 21st. Zacks Investment Research cut LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Citigroup Inc. reiterated a “hold” rating and issued a $24.00 target price on shares of LaSalle Hotel Properties in a research note on Wednesday. TheStreet upgraded LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research note on Monday, July 18th. Finally, Deutsche Bank AG reiterated a “hold” rating on shares of LaSalle Hotel Properties in a research note on Sunday, June 26th.
In related news, insider Michael D. Barnello sold 150,000 shares of LaSalle Hotel Properties stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $28.49, for a total value of $4,273,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Alfred L. Young sold 17,000 shares of LaSalle Hotel Properties stock in a transaction dated Tuesday, July 26th. The stock was sold at an average price of $28.11, for a total value of $477,870.00. Following the completion of the transaction, the chief operating officer now directly owns 90,024 shares in the company, valued at approximately $2,530,574.64. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of LHO. Mizuho Asset Management Co. Ltd. bought a new position in shares of LaSalle Hotel Properties during the second quarter worth $111,000. Hillsdale Investment Management Inc. acquired a new position in LaSalle Hotel Properties during the second quarter valued at $116,000. Fuller & Thaler Asset Management Inc. acquired a new position in LaSalle Hotel Properties during the second quarter valued at $120,000. BlackRock Japan Co. Ltd boosted its position in LaSalle Hotel Properties by 2.8% in the first quarter. BlackRock Japan Co. Ltd now owns 6,049 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 167 shares during the period. Finally, LS Investment Advisors LLC boosted its position in LaSalle Hotel Properties by 72.3% in the second quarter. LS Investment Advisors LLC now owns 6,766 shares of the real estate investment trust’s stock valued at $160,000 after buying an additional 2,838 shares during the period.
Shares of LaSalle Hotel Properties (NYSE:LHO) opened at 23.77 on Monday. The company has a 50-day moving average of $25.94 and a 200-day moving average of $24.97. The firm has a market capitalization of $2.69 billion, a PE ratio of 20.85 and a beta of 1.35. LaSalle Hotel Properties has a 52 week low of $19.01 and a 52 week high of $32.10.
LaSalle Hotel Properties (NYSE:LHO) last posted its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. The company had revenue of $351.10 million for the quarter, compared to analysts’ expectations of $344.43 million. LaSalle Hotel Properties had a return on equity of 6.51% and a net margin of 11.54%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.91 earnings per share. On average, equities analysts forecast that LaSalle Hotel Properties will post $2.93 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.80 dividend on an annualized basis and a yield of 7.57%. LaSalle Hotel Properties’s dividend payout ratio is currently 157.90%.