Market Overview

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

Related LHO
Top 4 Mid-Cap Stocks In The REIT-Hotel/Motel Industry With The Highest ROE
UPDATE: MLV Downgrades LaSalle Hotel Properties

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.

Posted-In: Goldman SachsAnalyst Color Price Target Analyst Ratings

 

Related Articles (LHO)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters