Market Overview

UPDATE: Goldman Sachs Raises PT on LaSalle Hotel Properties, Estimates Lowered Following 4Q12 Results

Related LHO
Hotel REIT Sector Downgraded To Sell At Ladenburg
Barclays Downgrades Lasalle Hotel, RLJ Lodging To Underweight

In a report published Monday, Goldman Sachs reiterated its Neutral rating on LaSalle Hotel Properties (NYSE: LHO), and slightly raised its price target from $26.50 to $27.25.

Goldman Sachs noted, “Our new FFO per share estimates for 2013 and 2014 are $2.16 and $2.39, changed from $2.25 and $2.54. Our 2013-2014 EBITDA estimates move to $285mn/$314mn (from $301mn/$327mn), on lower RevPAR estimates and more modest margin expansion. With this update we introduce FY2015E FFO of $2.58 and EBITDA of $333mn. Benefits from 2012 renovations are already baked into management expectations. Additionally, we expect comparable ADR (average daily rate) increases in late 2013/early 2014 to be gradual as Park Central, NY and West House ramp up. Our DCF, EV/EBITDA, and P/FFO multiple-based 12-month price target moves to $26.50 from $27.25 on our new estimates.”

LaSalle Hotel Properties closed on Friday at $25.48.

Latest Ratings for LHO

Mar 2016Stifel NicolausAssumesHold
Mar 2016Credit SuisseMaintainsOutperform
Feb 2016SunTrust Robinson HumphreyMaintainsNeutral

View More Analyst Ratings for LHO
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Analyst Ratings


Related Articles (LHO)

View Comments and Join the Discussion!