LaSalle Hotel Properties (NYSE:LHO) was downgraded by investment analysts at Evercore ISI from an “in-line” rating to an “underperform” rating in a note issued to investors on Monday. The analysts noted that the move was a valuation call.
Several other equities analysts also recently issued reports on the stock. J P Morgan Chase & Co downgraded shares of LaSalle Hotel Properties from a “neutral” rating to an “underweight” rating and set a $24.00 price objective on the stock. in a research note on Thursday. Zacks Investment Research raised shares of LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a research note on Friday, November 10th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of LaSalle Hotel Properties in a research note on Monday, October 30th. UBS AG downgraded shares of LaSalle Hotel Properties from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. Finally, Citigroup Inc. reduced their price objective on shares of LaSalle Hotel Properties from $29.00 to $26.50 and set a “neutral” rating on the stock in a research note on Wednesday, October 25th. Five equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $28.64.
Shares of LaSalle Hotel Properties (LHO) traded down $0.21 during midday trading on Monday, hitting $28.18. 804,300 shares of the company’s stock traded hands, compared to its average volume of 1,284,205. LaSalle Hotel Properties has a 12 month low of $26.82 and a 12 month high of $31.87. The stock has a market capitalization of $3,190.87, a P/E ratio of 11.01, a PEG ratio of 2.29 and a beta of 1.12. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45.
Hedge funds have recently modified their holdings of the stock. First Mercantile Trust Co. increased its position in LaSalle Hotel Properties by 1.9% during the second quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock worth $113,000 after purchasing an additional 70 shares during the last quarter. Ffcm LLC increased its position in shares of LaSalle Hotel Properties by 150.1% in the second quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 2,445 shares in the last quarter. IFP Advisors Inc increased its position in shares of LaSalle Hotel Properties by 14.9% in the second quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock worth $136,000 after acquiring an additional 592 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of LaSalle Hotel Properties in the third quarter worth $174,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of LaSalle Hotel Properties in the third quarter worth $212,000.
LaSalle Hotel Properties Company Profile
LaSalle Hotel Properties is a self-administered and self-managed real estate investment trust. The Company primarily buys, owns, redevelops and leases upscale and luxury full-service hotels located in convention, resort and urban business markets. As of December 31, 2016, the Company owned interests in 46 hotels with approximately 11,450 guest rooms located in nine states of the United States and the District of Columbia (DC).
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