Zacks: Brokerages Anticipate LaSalle Hotel Properties (LHO) Will Announce Quarterly Sales of $261.46 Million

Analysts predict that LaSalle Hotel Properties (NYSE:LHO) will post sales of $261.46 million for the current quarter, Zacks reports. Nine analysts have made estimates for LaSalle Hotel Properties’ earnings. The highest sales estimate is $271.01 million and the lowest is $250.71 million. LaSalle Hotel Properties posted sales of $289.49 million during the same quarter last year, which suggests a negative year-over-year growth rate of 9.7%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, February 20th.

According to Zacks, analysts expect that LaSalle Hotel Properties will report full year sales of $261.46 million for the current year, with estimates ranging from $1.10 billion to $1.12 billion. For the next year, analysts forecast that the firm will report sales of $1.08 billion per share, with estimates ranging from $1.06 billion to $1.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for LaSalle Hotel Properties.

LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings data on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.46). LaSalle Hotel Properties had a return on equity of 8.31% and a net margin of 18.10%. The firm had revenue of $285.90 million for the quarter, compared to the consensus estimate of $295.02 million. During the same quarter last year, the business earned $0.84 earnings per share. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year.

A number of equities research analysts have issued reports on LHO shares. Zacks Investment Research cut LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Robert W. Baird set a $31.00 target price on LaSalle Hotel Properties and gave the company a “hold” rating in a research note on Sunday, October 1st. Stifel Nicolaus reiterated a “hold” rating on shares of LaSalle Hotel Properties in a research note on Tuesday, October 17th. Boenning Scattergood reiterated a “hold” rating on shares of LaSalle Hotel Properties in a research note on Monday, October 23rd. Finally, Morgan Stanley cut their target price on LaSalle Hotel Properties from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Monday, October 23rd. Eight analysts have rated the stock with a sell rating and ten have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average target price of $27.83.

In related news, COO Alfred L. Young sold 17,750 shares of LaSalle Hotel Properties stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $28.28, for a total transaction of $501,970.00. Following the sale, the chief operating officer now directly owns 88,808 shares in the company, valued at $2,511,490.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.38% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Aurora Investment Counsel bought a new stake in shares of LaSalle Hotel Properties during the fourth quarter valued at about $1,652,000. AXA raised its stake in shares of LaSalle Hotel Properties by 9.9% during the third quarter. AXA now owns 233,702 shares of the real estate investment trust’s stock valued at $6,782,000 after purchasing an additional 20,982 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of LaSalle Hotel Properties by 2.8% during the third quarter. Public Employees Retirement System of Ohio now owns 147,426 shares of the real estate investment trust’s stock valued at $4,278,000 after purchasing an additional 4,072 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of LaSalle Hotel Properties by 3.7% during the third quarter. California Public Employees Retirement System now owns 320,623 shares of the real estate investment trust’s stock valued at $9,304,000 after purchasing an additional 11,364 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of LaSalle Hotel Properties by 58.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,766 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 3,956 shares in the last quarter.

Shares of LaSalle Hotel Properties (LHO) opened at $28.64 on Friday. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $3,210.00, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11. LaSalle Hotel Properties has a one year low of $27.44 and a one year high of $31.87.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.28%. The ex-dividend date of this dividend is Thursday, December 28th. LaSalle Hotel Properties’s dividend payout ratio is currently 111.11%.

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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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Earnings History and Estimates for LaSalle Hotel Properties (NYSE:LHO)

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