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Goldman Sachs Downgrades LaSalle Hotel Properties (LHO) to Sell

March 4, 2013 6:51 AM EST Send to a Friend
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Price: $32.30 +0.50%

Rating Summary:
    3 Buy, 8 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Goldman Sachs downgraded LaSalle Hotel Properties (NYSE: LHO) from Neutral to Sell with a price target of $23.50 (from $26.50), suggesting 8% downside. The firm cited headwinds from the lagging Washington DC market, upcoming supply increases in in two of its key markets (DC and NYC) and uncertainty with end results from ongoing
renovations.

The firm lowered 2013-2015 FFO estimates to $2.13/$2.29/2.50 from $2.16/$2.39/$2.58 and lower our respective EBITDA estimates to $285mn/$307mn/$329mn from $285mn/$314mn/$333mn.

For an analyst ratings summary and ratings history on LaSalle Hotel Properties click here. For more ratings news on LaSalle Hotel Properties click here.

Shares of LaSalle Hotel Properties closed at $25.60 yesterday.




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