Brokerage firm Credit Suisse Downgrades its rating on LaSalle Hotel Properties(NYSE:LHO). In a research note issued to the investors, the brokerage major Lowers the price-target to $25.00 per share. The shares have been rated Neutral. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Jul 21, 2016.
In a different note, On Jul 21, 2016, Barclays said it Maintains its rating on LaSalle Hotel Properties. In the research note, the firm Raises the price-target to $23.00 per share. The shares have been rated ‘Underweight’ by the firm.
LaSalle Hotel Properties (LHO) made into the market gainers list on Wednesdays trading session with the shares advancing 0.70% or 0.18 points. Due to strong positive momentum, the stock ended at $26, which is also near the day’s high of $26.1. The stock began the session at $25.88 and the volume stood at 32,68,100 shares. The 52-week high of the shares is $38.35 and the 52 week low is $19.0089. The company has a current market capitalization of $2,940 M and it has 11,30,59,456 shares in outstanding.
LaSalle Hotel Properties(LHO) last announced its earnings results on Apr 21, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $260.10M. Analysts had an estimated revenue of $263.84M. Earnings per share were $0.49. Analysts had estimated an EPS of $0.43.
Several Insider Transactions has been reported to the SEC. On May 3, 2016, William S Mccalmont (director) sold 2,091 shares at $24.10 per share price.Also, On Apr 28, 2016, Bruce A Riggins (EVP) sold 15,000 shares at $24.46 per share price.
Lasalle Hotel Properties is a self-managed and self-administered real estate investment trust (REIT). The Company buys owns redevelops and leases upscale and luxury full-service hotels located in convention resort and urban business markets. As of December 31 2014 the Company owned interests in 45 hotels with approximately 11300 guest rooms located in 10 states and the District of Columbia. LaSalle Hotel Lessee Inc. (LHL) is the Company’s wholly owned REIT subsidiary. Its hotels are leased to LHL that provides for rental payments. The Company’s assets are held by and all of its operations are conducted through LaSalle Hotel Operating Partnership L.P. (the Operating Partnership). The Company is the sole general partner of the Operating Partnership.