LaSalle Hotel Properties (NYSE: LHO) was downgraded by equities researchers at Goldman Sachs from a “neutral” rating to a “sell” rating in a report issued on Monday. They currently have a $23.50 target price on the stock.
The analysts wrote, “We downgrade LaSalle (LHO) to Sell from Neutral and see 8% downside (vs. 6% upside for coverage) to our new 12-month price target of $23.50. Headwinds for LaSalle from its exposure to the lagging Washington DC market, upcoming supply increases in two of its key markets (DC and New York City) and uncertainty with end results from ongoing renovations drive our call for relative underperformance.”
Shares of LaSalle Hotel Properties opened at 25.60 on Monday. LaSalle Hotel Properties has a one year low of $22.33 and a one year high of $30.46. The stock’s 50-day moving average is currently $26.69. The company has a market cap of $2.446 billion and a P/E ratio of 49.23.
LaSalle Hotel Properties last issued its quarterly earnings data on Thursday, February 21st. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.44 by $0.03. The company had revenue of $215.70 million for the quarter, compared to the consensus estimate of $210.57 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis. Analysts expect that LaSalle Hotel Properties will post $2.21 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Raymond James cut their price target on shares of LaSalle Hotel Properties from $29.00 to $28.00 in a research note to investors on Monday, February 25th. Separately, analysts at BMO Capital Markets cut their price target on shares of LaSalle Hotel Properties from $29.00 to $28.00 in a research note to investors on Monday, February 25th. They now have a “market perform” rating on the stock. Finally, analysts at TheStreet upgraded shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a research note to investors on Monday, February 18th.
Seven investment analysts have rated the stock with a buy rating, one has given an overweight rating, and eight have given a hold rating to the company. The stock currently has an average rating of “overweight” and a consensus price target of $28.46.
Lasalle Hotel Properties is a self-managed and self-administered real estate investment trust (REIT).
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