LaSalle Hotel Properties (LHO) reported quarterly earnings results on Thursday, Apr-21-2016. The company said it had a profit of $0.49 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.43. The company posted revenue of $260.10 million in the period, compared to analysts expectations of $264.09 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.
Many Wall Street Analysts have commented on LaSalle Hotel Properties. LaSalle Hotel Properties was Resumed by Stifel to “Hold” on Mar 29, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 22, 2016 to “Sector Perform” and Lowered the Price Target to $ 28 from a previous price target of $32 .
LaSalle Hotel Properties closed down -0.48 points or -1.92% at $24.58 with 10,13,367 shares getting traded on Monday. Post opening the session at $25.03, the shares hit an intraday low of $24.48 and an intraday high of $25.12 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Mar 7, 2016, William S Mccalmont (director) sold 2,412 shares at $26.48 per share price.
Lasalle Hotel Properties is a self-managed and self-administered real estate investment trust (REIT). The Company buys owns redevelops and leases upscale and luxury full-service hotels located in convention resort and urban business markets. As of December 31 2014 the Company owned interests in 45 hotels with approximately 11300 guest rooms located in 10 states and the District of Columbia. LaSalle Hotel Lessee Inc. (LHL) is the Company’s wholly owned REIT subsidiary. Its hotels are leased to LHL that provides for rental payments. The Company’s assets are held by and all of its operations are conducted through LaSalle Hotel Operating Partnership L.P. (the Operating Partnership). The Company is the sole general partner of the Operating Partnership.