We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
LaSalle Hotel (LHO) to Sell Assets Worth $218.9 Million
Read MoreHide Full Article
LaSalle Hotel Properties announced that it has divested two hotel assets and is under contract to sell another hotel asset. By selling these three hotels, in total, the Bethesda, MD-based real estate investment trust (REIT) will generate proceeds of $218.9 million. The company intends to utilize the sale proceeds for redemption of shares as well as for general corporate purposes.
Lasalle Hotel Properties is engaged in the acquisition, investment management, finance, development and disposition of hotel properties. The company sold Lansdowne Resort and Alexis Hotel for $133 million and $71.6 million, respectively. The sale of Hotel Triton is likely to close in Apr 2017 and will fetch $14.25 million to the company.
In Jan 2017, the company sold Hotel Deca. Combining the sale of Hotel Deca and the impending sale of Hotel Triton, Lasalle Hotel Properties will be selling four hotel assets in 2017 for $273.9 million.
Currently, LaSalle Hotel Properties carries a Zacks Rank #3 (Hold).
Shares of National Health Investors underperformed the Zacks categorized REIT and Equity Trust - Other industry in the last three months. During this time, shares of the company declined 4.5%, whereas the industry gained 1.1%.
In the last 30 days, Global Net Lease’s FFO per share for first-quarter 2017 remained unchanged at 60 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 0.9% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 6.5% to $1.14, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>
See More Zacks Research for These Tickers
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
LaSalle Hotel (LHO) to Sell Assets Worth $218.9 Million
LaSalle Hotel Properties announced that it has divested two hotel assets and is under contract to sell another hotel asset. By selling these three hotels, in total, the Bethesda, MD-based real estate investment trust (REIT) will generate proceeds of $218.9 million. The company intends to utilize the sale proceeds for redemption of shares as well as for general corporate purposes.
![](https://staticx-tuner.zacks.com/images/zadmin_tuner_image/lho_20170405.jpg)
Lasalle Hotel Properties is engaged in the acquisition, investment management, finance, development and disposition of hotel properties. The company sold Lansdowne Resort and Alexis Hotel for $133 million and $71.6 million, respectively. The sale of Hotel Triton is likely to close in Apr 2017 and will fetch $14.25 million to the company.
In Jan 2017, the company sold Hotel Deca. Combining the sale of Hotel Deca and the impending sale of Hotel Triton, Lasalle Hotel Properties will be selling four hotel assets in 2017 for $273.9 million.
Currently, LaSalle Hotel Properties carries a Zacks Rank #3 (Hold).
Shares of National Health Investors underperformed the Zacks categorized REIT and Equity Trust - Other industry in the last three months. During this time, shares of the company declined 4.5%, whereas the industry gained 1.1%.
Investors interested in the REIT space may consider stocks like Global Net Lease, Inc. (GNL - Free Report) , CoreSite Realty Corporation (COR - Free Report) and CorEnergy Infrastructure Trust, Inc. . Each of these stocks carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the last 30 days, Global Net Lease’s FFO per share for first-quarter 2017 remained unchanged at 60 cents.
In the last 30 days, CoreSite Realty’s FFO per share for first-quarter 2017 increased 0.9% to $1.06.
CorEnergy Infrastructure Trust’s first-quarter 2017 FFO per share estimates moved up 6.5% to $1.14, in the last 30 days.
Note: FFO, a widely used metric to gauge the performance of REITs, is obtained after adding depreciation and amortization and other non-cash expenses to net income. All EPS numbers presented in this write up represent FFO per share.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>