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UPDATE: MLV Downgrades LaSalle Hotel Properties

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In a report released Thursday, MLV analyst Ryan Meliker downgraded LaSalle Hotel Properties (NYSE: LHO) from Buy to Hold, but increased its price target from $36 to $38 per share.

Meliker claim LaSalle's RevPAR and EBITDA growth is below his preferred range within the company's sectors. Analysts at MLV no longer believe LaSalle trades at a discount compared within its sector.

MLV's increase price target is based on a net asset value giving a five percent premium, derived by a 2014 estimate of a 6.25 percent cap rate. The given values are calculated by MLV's DCF model, assuming a 7.5 percent cost of equity and a 2.5 percent growth rate. MLV's price target estimates a 2015 EBITDA multiple of 14x.

Latest Ratings for LHO

DateFirmActionFromTo
Jan 2017Raymond JamesUpgradesMarket PerformOutperform
Dec 2016NomuraInitiates Coverage OnNeutral
Oct 2016CitigroupMaintainsNeutral

View More Analyst Ratings for LHO
View the Latest Analyst Ratings

Posted-In: MLV Ryan MelikerAnalyst Color Downgrades Price Target Analyst Ratings

 

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