Join        Login             Stock Quote

Lasalle Hotel Properties (LHO) Cuts 2012 Forecast Due To Hurricane Sandy

 November 09, 2012 11:03 AM

(By Balaseshan) LaSalle Hotel Properties (NYSE: LHO), a self-managed and self-administered real estate investment trust, said it has lowered fiscal 2012 guidance due to the impact of Hurricane Sandy.

"We are fortunate that our hotel teams reported no injuries or physical damage as a result of Hurricane Sandy. While we are providing this update to our outlook due to the business impact from the storm, we are still working to determine our ability to recover any lost income through our insurance policy," said Michael Barnello, Chief Executive of LHO.

The company reduced its 2012 funds from operations (FFO) per share/unit outlook to range of $2.04 to $2.05 from previous estimate of $2.09 to $2.10, while Street predicts $2.08.

[Related -LaSalle Hotel Properties (LHO) Upgraded To 'Outperform' At BMO Capital]

LaSalle cut its full year FFO forecast to range of $175.3 million to $176.3 million from previous range of $179.3 million to $180.3 million.

Adjusted EBITDA is now expected to be in the $259 million to $261 million range, lower than prior expectations of $263.5 million to $265.5 million.

The company now anticipates revenue per available room (RevPAR) growth of 4.0% to 4.3%, compared to prior growth estimate of 4.5% to 4.8%. Hotel EBITDA Margins are now predicted to be in the range of 31.9% to 32.1%, down from previous guidance of 32.3% to 32.5%.

The company owns interests in 40 hotels of which 38 are owned 100%. The 38 wholly-owned properties are upscale full-service hotels, totaling 10,200 guest rooms in 13 markets in 9 states and the District of Columbia.

[Related -Dividend Roundup: AHT, IDCC, LHO, LII, PEB, SWY, TYC]

LHO is trading up 0.30% at $23.61 on Friday. The stock has been trading between $20.22 and $30.46 for the past 52 weeks.



Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

article imageThe Single Best Place To Invest Your Money For Retirement

It was never supposed to be this daunting. At least that's what we were read on...

article imageNegative Blowback From Negative Interest Rates

The Federal Reserve is widely expected to leave interest rates unchanged today. But perhaps standing pat read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.