LaSalle Hotel Properties (LHO) : Traders are bullish on LaSalle Hotel Properties (LHO) as it has outperformed the S&P 500 by a wide margin of 0.73% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.18%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.15% in the last 1 week, and is up 1.11% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
LaSalle Hotel Properties is up 30.15% in the last 3-month period. Year-to-Date the stock performance stands at 16.51%. The stock has recorded a 20-day Moving Average of 1.54% and the 50-Day Moving Average is 11.21%.
LaSalle Hotel Properties (NYSE:LHO): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $28.00 and $27.87 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.25. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.20, notching a gain of 0.57% for the day. The total traded volume was 959,222 . The stock had closed at $28.04 on the previous day.
Also, Citigroup maintains its rating on LaSalle Hotel Properties (NYSE:LHO). The global brokerage major raises the current price target from $23 per share to $27 per share. Analysts at the Citigroup have a current rating of Neutral on the shares. The rating by the firm was issued on July 28, 2016.
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 11,300 guest rooms located in 10 states and the District of Columbia. LaSalle Hotel Lessee, Inc. (LHL) is the Companys wholly owned REIT subsidiary. Its hotels are leased to LHL that provides for rental payments. The Companys 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.