Jefferies Downgrades LaSalle Hotel Properties (LHO) to Hold

Jefferies downgraded LaSalle Hotel Properties (NYSE: LHO) from Buy to Hold with a price target of $18 (down from $31), citing a more conservative stance on RevPAR forecasts and their view of the transaction market.

The firm states, "While we believe LHO has executed better than most of its peers over the recent past from an operating perspective and acquisition perspective, we suggest that its portfolio bears significant risk from an economic slowdown."

The company's largest market is Washington D.C., which has been the weakest performer in 2011 and is not expected to rebound significantly in 2012.

For more ratings news on LaSalle Hotel Properties click here and for the rating history of LaSalle Hotel Properties click here.

Shares of LaSalle Hotel Properties closed at $19.38 yesterday.

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