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Yesterday, 10:01 AM
- Stifel steps into the Ebola-related downdraft in the lodging sector, upgrading the largest (by market cap) such REIT, Hospitality Property Trust (HPT +2.1%) to Buy with $30 price target.
- Other names: Ashford (AHT +1.2%), Strategic Hotels (BEE +0.8%), Sunstone Hotel (SHO +1.1%), LaSalle Hotel (LHO +0.6%), Chesapeake Lodging (CHSP +0.6%), Summit Hotel (INN +1.2%), Pebblebrook Hotel (PEB +0.7%).
Wed, Oct. 15, 5:25 AM
- A second healthcare worker has contracted Ebola in the U.S.,
- The worker, a staff member at Texas Health Presbyterian Hospital, was among those who looked after Thomas Duncan, who died of the virus earlier this month.
- More on Ebola
- Related health stocks: TKMR, BCRX, HEB, INO, NLNK, NNVC, OTCQB:GOVX, SRPT, CMRX, GSK, IBIO, APT, LAKE, SRPT, PLX, NSPH, SMED, VSR, AHPI
- Airlines: DAL, AAL, UAL, SKYW, ALGT, HA, LUV
- Hotels: MAR, HLT, IHG, STAY, H, HOT, CHH
- Lodging REITS: AHT, SHO, LHO, INN
Mon, Oct. 13, 4:19 PM
- Both equity and mortgage REITs saw plenty of buying as nearly all of the rest of the market was lit up bright red, and Treasury ETFs signaled a sharp drop in yields when government bonds reopen for trade tomorrow (closed this session for Columbus Day).
- A sampling of equity names: Senior Housing Properties (SNH +1.2%), Medical Properties Trust (MPW +1.4%), Gramercy Property Trust (GPT +1.7%), Equity Residential (EQR +0.7%), Inland Real Estate (IRC +0.9%), Sovran Self Storage (SSS +1.1%), Highwoods Properties Trust (HIW +1%).
- One equity REIT sector in the red along with the rest of the market is lodging amid worsening Ebola fears: Ashford Hospitality Trust (AHT -2.9%), Sunshine Hotel Investors (SHO -1.4%), LaSalle Hotel Properties (LHO -1.5%), Summit Hotel Properties (INN -1.5%).
- Mortgage REITs: American Capital Agency (AGNC +1.4%), CYS Investments (CYS +2.2%), Invesco (IVR +1.1%), American Capital Mortgage (MTGE +1.5%), Western Asset (WMC +1.1%).
- ETFs: IYR, VNQ, REM, MORL, MORT, DRN, URE, REZ, SRS, RWR, SCHH, ICF, ROOF, DRV, KBWY, RTL, REK, FRI, FTY, PSR, IFNA, FNIO, WREI
Mon, Sep. 15, 9:57 AM
Wed, Sep. 10, 3:20 PM
- Newport, Rhode Island's Hotel Viking was purchased by LaSalle Hotel Properties (LHO -1%) is 1999 for $27M, and with the sale will have delivered an IRR of 10.7% over the life of the investment.
- Proceeds will be used to pay down the company's credit facility, and LaSalle will save on taxes by executing a reverse 1031 exchange with the Hotel Vitale which was purchased last April.
- Source: Press Release
Wed, Jul. 23, 4:35 PM| Comment!
Tue, Jul. 22, 5:35 PM
- AF, AHL, AIZ, ALGT, ALSN, ANGI, ANGO, AVB, AWH, BDN, CA, CAKE, CCI, CHE, CLB, CLGX, CLW, CMRE, CRUS, CSGP, CTXS, EFX, EGHT, ETFC, ETH, FB, FFIV, FLS, FR, FTNT, GGG, GILD, HBI, HWAY, IBKC, ILMN, INFN, KALU, LHO, MAC, MKSI, MSA, NSR, NVEC, NXPI, OHI, OII, ORLY, PLCM, QCOM, QTM, RE, RJF, SFG, SGMO, SKX, SLG, SLM, SUSQ, T, TAL, TCBI, TER, TEX, TILE, TMK, TQNT, TRIP, TSCO, TYL, UMPQ, USTR, VAR, WFT
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!
Wed, Apr. 23, 5:03 PM
Wed, Apr. 23, 4:39 PM| Comment!
Fri, Mar. 14, 9:02 AM
Wed, Feb. 19, 6:19 PM| Comment!
Wed, Feb. 5, 5:08 PM
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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