LaSalle Hotel Properties (LHO) reported quarterly earnings results on Wednesday, Jul-20-2016. The company said it had a profit of $0.95 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.94. The company posted revenue of $351.08 million in the period, 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 $25.27 and hit $25.6 on the upside on Monday, eventually ending the session at $25.51, with a gain of 0.71% or 0.18 points. The heightened volatility saw the trading volume jump to 22,76,856 shares. Company has a market cap of $2,884 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.