LaSalle Hotel Properties (LHO) was Downgraded by Credit Suisse to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Credit Suisse advised their investors in a research report released on Jul 21, 2016.
On the company’s financial health, LaSalle Hotel Properties reported $0.95 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 20, 2016. Analyst had a consensus of $0.94. The company had revenue of $351.08 million for the quarter, compared to analysts expectations of $345.42 million. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.91 EPS.
LaSalle Hotel Properties opened for trading at $25.88 and hit $26.1 on the upside on Wednesday, eventually ending the session at $26, with a gain of 0.70% or 0.18 points. The heightened volatility saw the trading volume jump to 32,68,100 shares. Company has a market cap of $2,940 M.
In a different news, on May 3, 2016, William S Mccalmont (director) sold 2,091 shares at $24.10 per share price. According to the SEC, on Apr 28, 2016, Bruce A Riggins (EVP) sold 15,000 shares at $24.46 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.