Zacks: Analysts Expect LaSalle Hotel Properties (NYSE:LHO) Will Post Quarterly Sales of $294.68 Million

Brokerages expect that LaSalle Hotel Properties (NYSE:LHO) will post $294.68 million in sales for the current quarter, Zacks reports. Nine analysts have provided estimates for LaSalle Hotel Properties’ earnings, with estimates ranging from $289.56 million to $302.08 million. LaSalle Hotel Properties posted sales of $326.94 million in the same quarter last year, which suggests a negative year over year growth rate of 9.9%. The company is expected to issue its next earnings report on Wednesday, October 18th.

According to Zacks, analysts expect that LaSalle Hotel Properties will report full-year sales of $294.68 million for the current financial year, with estimates ranging from $1.11 billion to $1.18 billion. For the next financial year, analysts expect that the company will post sales of $1.11 billion per share, with estimates ranging from $1.07 billion to $1.18 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for LaSalle Hotel Properties.

LaSalle Hotel Properties (NYSE:LHO) last announced its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.82 by $0.01. The company had revenue of $307.04 million during the quarter, compared to the consensus estimate of $318.94 million. LaSalle Hotel Properties had a net margin of 27.85% and a return on equity of 13.05%. The business’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS.

LHO has been the topic of a number of research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $31.00 price objective (up from $30.00) on shares of LaSalle Hotel Properties in a report on Friday, June 16th. Zacks Investment Research lowered LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Boenning Scattergood set a $35.00 price objective on LaSalle Hotel Properties and gave the company a “buy” rating in a report on Tuesday, June 27th. Barclays PLC reaffirmed an “underweight” rating and issued a $28.00 price objective (up from $27.00) on shares of LaSalle Hotel Properties in a report on Sunday, April 23rd. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on LaSalle Hotel Properties in a report on Monday, April 10th. They issued a “neutral” rating and a $27.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $29.12.

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Several hedge funds have recently added to or reduced their stakes in the stock. Tyers Asset Management LLC increased its stake in LaSalle Hotel Properties by 2.2% in the first quarter. Tyers Asset Management LLC now owns 4,004 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 88 shares during the last quarter. Flinton Capital Management LLC increased its stake in LaSalle Hotel Properties by 2.2% in the first quarter. Flinton Capital Management LLC now owns 5,096 shares of the real estate investment trust’s stock worth $148,000 after buying an additional 112 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in LaSalle Hotel Properties by 0.8% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,265 shares of the real estate investment trust’s stock worth $500,000 after buying an additional 130 shares during the last quarter. Neuburgh Advisers LLC increased its stake in LaSalle Hotel Properties by 2.2% in the first quarter. Neuburgh Advisers LLC now owns 6,188 shares of the real estate investment trust’s stock worth $179,000 after buying an additional 136 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. increased its stake in LaSalle Hotel Properties by 0.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 64,400 shares of the real estate investment trust’s stock worth $1,864,000 after buying an additional 200 shares during the last quarter.

Shares of LaSalle Hotel Properties (LHO) traded up 0.07% during midday trading on Friday, reaching $29.56. 1,014,244 shares of the company’s stock were exchanged. The company has a market capitalization of $3.35 billion, a PE ratio of 10.99 and a beta of 1.16. LaSalle Hotel Properties has a 1-year low of $23.05 and a 1-year high of $31.87. The firm has a 50-day moving average of $30.30 and a 200-day moving average of $29.53.

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.09%. LaSalle Hotel Properties’s payout ratio is 66.91%.

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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