(LHO - Get Report)
is a real estate investment trust that focuses on upscale and luxury full-service hotels located in busy markets. The company owns interest in 36 hotels with over 8,900 guest rooms located in nine states and the District of Columbia. The Maryland-based REIT conducts its operations through its subsidiaries.
Of the 18 analysts covering the stock, 56% recommend a buy and the rest suggest a hold. The stock's 12-month average price target is $25.54, which is 15.9% higher than the current market price, as per a
For 2011 third quarter, the company announced total revenue of $199.1 million, up 20.8% from $164.7 million in the same quarter prior year. Net income attributable to common shareholders amounted to $14.9 million for the quarter, increasing 47.5% from $10.1 million last year. For the reporting quarter, revenue per available room increased 6.4% to $166.09. The company declared its quarterly dividend of 11 cents per common share of beneficial interest on Sept. 30. The dividend was paid on Oct. 14.
The company projects fourth-quarter revenue per available room growth of 5% to 7% and 6.2% to 6.6% for full year 2011.
Early October, LaSalle Hotel announced that it acquired the Villa Florence, a 182-room full-service urban hotel in San Francisco for $67.2 million.