LaSalle Hotel Properties (LHO) Given a $32.00 Price Target at Deutsche Bank

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Deutsche Bank set a $32.00 price objective on LaSalle Hotel Properties (NYSE:LHO) in a report issued on Friday morning. The firm currently has a hold rating on the real estate investment trust’s stock.

LHO has been the subject of several other reports. Barclays restated a hold rating and set a $39.00 target price on shares of LaSalle Hotel Properties in a report on Sunday, September 9th. Zacks Investment Research downgraded shares of LaSalle Hotel Properties from a buy rating to a hold rating in a report on Tuesday, July 24th. ValuEngine downgraded shares of LaSalle Hotel Properties from a buy rating to a hold rating in a report on Friday, October 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of LaSalle Hotel Properties from $29.00 to $30.00 and gave the company a neutral rating in a report on Friday, August 10th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $30.21.

NYSE:LHO traded up $0.45 during mid-day trading on Friday, hitting $32.07. 4,243,588 shares of the company’s stock traded hands, compared to its average volume of 1,587,192. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.46. LaSalle Hotel Properties has a 1 year low of $24.10 and a 1 year high of $36.13. The company has a market capitalization of $3.49 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 2.77 and a beta of 1.07.

LaSalle Hotel Properties (NYSE:LHO) last posted its earnings results on Thursday, August 9th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.49). LaSalle Hotel Properties had a net margin of 7.08% and a return on equity of 3.31%. The business had revenue of $304.60 million for the quarter, compared to analysts’ expectations of $300.86 million. During the same quarter last year, the business posted $0.81 earnings per share. The business’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts predict that LaSalle Hotel Properties will post 2.28 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of LaSalle Hotel Properties by 1.1% in the second quarter. BlackRock Inc. now owns 15,486,652 shares of the real estate investment trust’s stock worth $530,108,000 after acquiring an additional 170,778 shares during the last quarter. Northern Trust Corp boosted its position in shares of LaSalle Hotel Properties by 0.9% in the second quarter. Northern Trust Corp now owns 4,394,825 shares of the real estate investment trust’s stock worth $150,436,000 after acquiring an additional 39,780 shares during the last quarter. Alpine Associates Management Inc. acquired a new stake in shares of LaSalle Hotel Properties in the second quarter worth approximately $64,258,000. Schwab Charles Investment Management Inc. boosted its position in shares of LaSalle Hotel Properties by 4.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,648,978 shares of the real estate investment trust’s stock worth $56,445,000 after acquiring an additional 75,555 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of LaSalle Hotel Properties by 10.9% in the first quarter. Legal & General Group Plc now owns 1,022,444 shares of the real estate investment trust’s stock worth $29,661,000 after acquiring an additional 100,534 shares during the last quarter. Institutional investors and hedge funds own 97.89% of the company’s stock.

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 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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Analyst Recommendations for LaSalle Hotel Properties (NYSE:LHO)

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