Wall Street brokerages expect LaSalle Hotel Properties (NYSE:LHO) to announce $0.69 earnings per share for the current quarter, according to Zacks. Eight analysts have provided estimates for LaSalle Hotel Properties’ earnings, with the lowest EPS estimate coming in at $0.63 and the highest estimate coming in at $0.77. LaSalle Hotel Properties posted earnings of $0.68 per share during the same quarter last year, which suggests a positive year over year growth rate of 1.5%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Thursday, November 1st.
On average, analysts expect that LaSalle Hotel Properties will report full year earnings of $2.31 per share for the current year, with EPS estimates ranging from $2.18 to $2.40. For the next financial year, analysts expect that the firm will report earnings of $2.36 per share, with EPS estimates ranging from $2.24 to $2.42. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that follow LaSalle Hotel Properties.
LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.49). LaSalle Hotel Properties had a return on equity of 3.31% and a net margin of 7.08%. The business had revenue of $304.60 million during the quarter, compared to the consensus estimate of $300.86 million. During the same quarter in the prior year, the firm posted $0.81 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis.
LHO has been the topic of several research reports. ValuEngine upgraded shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research report on Monday, July 2nd. Zacks Investment Research cut shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. JPMorgan Chase & Co. boosted their price target on shares of LaSalle Hotel Properties from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Barclays restated a “hold” rating and issued a $39.00 price target on shares of LaSalle Hotel Properties in a research report on Sunday, September 9th. Finally, Deutsche Bank set a $32.00 price target on shares of LaSalle Hotel Properties and gave the stock a “hold” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have issued a buy rating to the stock. LaSalle Hotel Properties currently has a consensus rating of “Hold” and an average price target of $30.21.
Hedge funds have recently bought and sold shares of the business. Meeder Asset Management Inc. increased its position in LaSalle Hotel Properties by 1,209.1% during the second quarter. Meeder Asset Management Inc. now owns 3,325 shares of the real estate investment trust’s stock valued at $114,000 after acquiring an additional 3,071 shares during the last quarter. Mint Tower Capital Management B.V. bought a new position in LaSalle Hotel Properties during the second quarter valued at $137,000. Qube Research & Technologies Ltd bought a new position in LaSalle Hotel Properties during the second quarter valued at $141,000. Point72 Hong Kong Ltd bought a new position in LaSalle Hotel Properties during the second quarter valued at $149,000. Finally, Dupont Capital Management Corp bought a new position in LaSalle Hotel Properties during the second quarter valued at $183,000. Institutional investors and hedge funds own 97.89% of the company’s stock.
LHO traded up $0.45 during trading hours on Friday, hitting $32.07. The company’s stock had a trading volume of 4,243,588 shares, compared to its average volume of 1,587,192. LaSalle Hotel Properties has a 12 month low of $24.10 and a 12 month high of $36.13. The stock has a market capitalization of $3.49 billion, a PE ratio of 12.98, a P/E/G ratio of 2.77 and a beta of 1.07. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.86 and a current ratio of 1.86.
About LaSalle Hotel Properties
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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