Wall Street brokerages expect that LaSalle Hotel Properties (NYSE:LHO) will announce sales of $300.46 million for the current quarter, according to Zacks. Eight analysts have provided estimates for LaSalle Hotel Properties’ earnings. The highest sales estimate is $308.79 million and the lowest is $291.88 million. LaSalle Hotel Properties reported sales of $307.04 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.1%. The company is scheduled to issue its next quarterly earnings results on Wednesday, July 18th.
According to Zacks, analysts expect that LaSalle Hotel Properties will report full-year sales of $1.07 billion for the current fiscal year, with estimates ranging from $1.05 billion to $1.09 billion. For the next year, analysts expect that the company will report sales of $1.09 billion per share, with estimates ranging from $1.07 billion to $1.12 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for LaSalle Hotel Properties.
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LaSalle Hotel Properties (NYSE:LHO) last released its earnings results on Thursday, May 10th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.37). The firm had revenue of $223.00 million during the quarter, compared to analysts’ expectations of $216.67 million. LaSalle Hotel Properties had a net margin of 9.55% and a return on equity of 4.46%. The business’s revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.67 EPS.
A number of equities analysts recently commented on LHO shares. Stifel Nicolaus reduced their price objective on LaSalle Hotel Properties from $28.50 to $25.50 and set a “hold” rating on the stock in a research report on Wednesday, February 21st. ValuEngine downgraded LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Thursday, February 22nd. Boenning Scattergood reiterated a “sell” rating on shares of LaSalle Hotel Properties in a research report on Thursday, February 22nd. Deutsche Bank reduced their price objective on LaSalle Hotel Properties from $28.00 to $24.00 and set a “hold” rating on the stock in a research report on Thursday, February 22nd. Finally, Robert W. Baird set a $27.00 price objective on LaSalle Hotel Properties and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $27.68.
LaSalle Hotel Properties stock traded down $0.12 during trading on Friday, reaching $34.80. 2,465,400 shares of the company were exchanged, compared to its average volume of 2,353,180. LaSalle Hotel Properties has a 52-week low of $24.10 and a 52-week high of $36.13. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 14.09 and a beta of 1.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.87 and a current ratio of 1.87.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 16th. Shareholders of record on Friday, June 29th will be paid a dividend of $0.225 per share. The ex-dividend date is Thursday, June 28th. This represents a $0.90 annualized dividend and a yield of 2.59%. LaSalle Hotel Properties’s dividend payout ratio (DPR) is 72.87%.
A number of hedge funds have recently bought and sold shares of LHO. Assetmark Inc. lifted its holdings in LaSalle Hotel Properties by 4,082.5% during the 4th quarter. Assetmark Inc. now owns 4,057 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 3,960 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new stake in LaSalle Hotel Properties during the 4th quarter worth about $267,000. Elkfork Partners LLC purchased a new stake in LaSalle Hotel Properties during the 4th quarter worth about $285,000. Flinton Capital Management LLC lifted its holdings in LaSalle Hotel Properties by 29.1% during the 4th quarter. Flinton Capital Management LLC now owns 12,936 shares of the real estate investment trust’s stock worth $363,000 after buying an additional 2,912 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in LaSalle Hotel Properties by 17.9% during the 1st quarter. Daiwa Securities Group Inc. now owns 14,500 shares of the real estate investment trust’s stock worth $421,000 after buying an additional 2,200 shares during the last quarter.
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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