Earnings Review and Free Research Report: LaSalle’s Q3 Results Disappointed Market Forecasts

Research Desk Line-up: Hersha Hospitality Trust Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 27, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on LaSalle Hotel Properties (NYSE: LHO), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=LHO, following the Company's release of its financial results on October 19, 2017, for the third quarter fiscal 2017 (Q3 FY17). The Bethesda, Maryland-based Company reported a 12.5% y-o-y decline in total revenues, while its adjusted funds from operations (FFO) per share fell 20.0% y-o-y. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the REIT - Hotel/Motel industry. Pro-TD has currently selected Hersha Hospitality Trust (NYSE: HT) for due-diligence and potential coverage as the Company announced on October 25, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Hersha Hospitality Trust when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on LHO; also brushing on HT. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

LaSalle reported total revenue of $285.86 million in Q3 FY17 compared to $326.94 million recorded in Q3 FY16. Total revenue number for the reported quarter fell short of market consensus estimates of $293.2 million. During the reported quarter, room revenues fell to $209.02 million from $237.76 million in the year-ago same quarter. Food and beverage revenues also fell to $50.19 million in Q3 FY17 from $61.72 million in Q3 FY16. The Company's top-line was impacted by the closure of two resorts in Key West due to Hurricane Irma.

The real estate investment trust (REIT) reported FFO attributable to common shareholders and unit-holders of $74.43 million, or $0.66 per diluted share, in Q3 FY17 compared to $95.69 million, or $0.84 per diluted share, in the previous year's corresponding quarter. Meanwhile. adjusted FFO attributable to common shareholders and unit-holders fell to $77.36 million, or $0.68 per diluted share, in Q3 FY17 from $96.40 million, or $0.85 per diluted share, in Q3 FY16. Meanwhile, Wall Street had expected the Company to report adjusted FFO of $0.73 per diluted share.

Operating Metrics

In Q3 FY17, the Company's total hotel operating expenses were $165.10 million compared to $186.95 million in the last year's same quarter. Total operating expenses were down to $239.56 million in Q3 FY17 from $260.53 million in Q3 FY16. The Company posted operating income of $46.29 million for the quarter ended September 30, 2017, versus $66.40 million in the year-ago comparable quarter.

The Company reported revenue per available room (RevPAR) of $217.57 million in Q3 FY17 which came in below $228.31 million in Q3 FY16, driven by a 3.6% decline in average daily rate to $243.31. In Q3 FY17, adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) came in at $93.52 million compared to $115.30 million in the year-ago same period. Moreover, Hotel EBITDA stood at $98.23 million, or 34.6% of total revenues, in Q3 FY17 compared to $107.85 million, or 36.6% of total revenues, in the last year's corresponding quarter.

Balance Sheet

LaSalle had cash and cash equivalents worth $444.29 million at the close of its books on September 30, 2017, compared to $134.65 million as on December 31, 2016. The Company had reported term-loan of $853.05 million as on September 30, 2017, and had a mortgage loan of $224.20 million as on the closing of books on September 30, 2017, compared to term-loan and mortgage loan of $852.76 million and $223.49 million, respectively, as on December 31, 2016.

Stock Performance

At the closing bell, on Thursday, October 26, 2017, LaSalle Hotel Properties' stock climbed 1.05%, ending the trading session at $28.00. A total volume of 1.54 million shares have exchanged hands, which was higher than the 3-month average volume of 1.10 million shares. The Company's stock price surged 14.94% in the previous twelve months. The stock is trading at a PE ratio of 15.87 and has a dividend yield of 6.43%. The stock currently has a market cap of $3.39 billion.

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SOURCE: Pro-Trader Daily