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Wed, Jul. 23, 4:35 PM| Comment!
Tue, Jul. 22, 5:35 PM
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Thu, Jul. 10, 11:14 AM
- Key, says Cowen, is hotel room demand likely to continue growing faster than supply, especially in the major gateway coastal markets, setting the state for "an extended period of pricing flexibility and enhanced growth ... [and] incomparable hotel EBITDA."
- “Absent the impact of acquisitions or dispositions, that would produce growth in comparable hotel EBITDA of between 7% and 9% next year,” compared to NOI growth of 3% for the rest of the REIT sector. Their favorites are Host Hotels (HST +0.9%), LaSalle Hotels (LHO -0.1%), and Pebblebrook Hotel Trust (PEB +0.1%).
- “With Q2 RevPAR tracking materially above guidance and our prior estimates, we are raising our Q2 estimates, virtually across the board," says the team at MLV. The stocks to own into earnings season are not just those who will beat expectations, but those who will raise guidance as well. Their favorites are those with the fastest internal growth - DiamondRock Hospitality (DRH -0.1%), Host Hotels (HST +0.9%), Strategic Hotels (BEE +0.8%), and RLJ Lodging (RLJ) - along with those trading at material valuation discounts: Summit Hotel Properties (INN +0.1%), Hersha Hospitality (HT -0.4%), and Ashford Hospitality (AHT +0.6%).
Tue, Jun. 24, 5:44 PM
- Joining the S&P 500: Affiliated Managers (AMG)
- Leaving the 500: Forest Labs (FRX)
- Joining the S&P MidCap 400: Forest Labs, LaSalle Hotel (LHO), Rayonier Advanced Materials (RYAM - about to be spun off from Rayonier), TimkenSteel (TMST - about to be spun off from Timken), Belden (BDC).
- Leaving the 400: Affiliated Managers, Intrepid Potash (IPI), Fidelity National (FNF), Greenhill (GHL).
- Joining the S&P SmallCap 600: Intrepid Potash, Greenhill, Synergy Resources (SYRG), Veritiv (VRTV - about to be spun off from International Paper), Sagent Pharma (SGNT).
- Leaving the 600: La Salle Hotel, Belden, JAKKS Pacific (JAKK), Spartan Motors (SPAR), Higher One (ONE).
- AMG +3.3% AH. LHO +1.8%. SGNT +3.3%. SYRG +3%. FNF -1.3%.
Wed, Jun. 18, 11:28 AM
- LaSalle Hotel Properties (LHO +0.3%) closes on the sale of the Hilton Alexandria Old Town for $93.4M. It was originally purchased for $59M in 2004, and delivered an annualized IRR of 13.5% since.
- The proceeds will be used to reduce borrowings on LaSalle's senior unsecured credit facility, and redeem the remaining $58.7M balance on the company's 7.25% Series G preferred stock.
- Source: Press release
Mon, Jun. 2, 9:57 AM| Comment!
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Fri, Mar. 14, 9:02 AM
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Wed, Feb. 5, 5:08 PM
Tue, Jan. 14, 3:50 PM
- The hotel REIT sector is having a big day, led by Strategic Hotels & Resorts (BEE +1.8%) one day after a 2-notch upgrade by BAML to Buy from Underperform. The price target is $11.50.
- The activist target initially popped yesterday following the upgrade, but gave up those gains as the market tanked in the afternoon.
- Others: Hospitality Properties (HPT +0.8%), Sunstone Hotel (SHO +1.5%), LaSalle Hotel (LHO +1.1%), Pebblebrook (PEB +1.8%), Ashford Hospitality (AHT +1.8%).
Dec. 13, 2013, 9:04 AM
Oct. 22, 2013, 9:15 AM
Oct. 16, 2013, 4:21 PM
Oct. 14, 2013, 8:16 AM
- The team downgrades a swath of hotel REITs in what looks to be valuation call as the sector (along with self-storage) has emerged unscathed from the heavy selling in REIT land amid higher interest rates since the Spring.
- Downgraded to Buy from Strong Buy are Strategic Hotels and Resorts (BEE) and Sunshine Hotel Investors (SHO). Cut to Hold from Buy are DiamondRock Hospitality (DRH), LaSalle Hotel Properties (LHO), and PebbleBrook Hotel Trust (PEB).
- Hotel REITs gained 6.23% in Q3 and Self-storage was ahead 7.45%. All other REIT sectors lost money during the period.
LHO vs. ETF Alternatives
LaSalle Hotel Properties is a real estate investment trust. The Company's business includes buying, owing, redeveloping & leasing mainly upscale & luxury full-service hotels located in convention, resort & major urban business markets.
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