Key Developments: LaSalle Hotel Properties (LHO)
25.50USD
18 Jun 2013
$0.33 (+1.31%)
$25.17
$25.15
$25.72
$25.10
355,037
802,171
$30.01
$22.33
Latest Key Developments (Source: Significant Developments)
Lasalle Hotel Properties Declares Dividend For Second Quarter
LaSalle Hotel Properties declared a quarterly dividend of $0.20 per common share of beneficial interest for the quarter ending June 30, 2013. The second quarter dividend will be paid on July 15, 2013 to common shareholders of record on June 28, 2013. Full Article
Lasalle Hotel Properties Reaffirms FY 2013 RevPAR Guidance; Reaffirms FY 2013 Earnings Guidance
LaSalle Hotel Properties announced that for fiscal 2013, it expects RevPAR growth of between 3.0%-6.0%, adjusted EBITDA of between $275-$295 million, adjusted funds from operation (FFO) to be in the range of $195-$214 million and adjusted FFO per diluted share to be in the range of $2.03-$2.23. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EBITDA of $287 million and FFO per share of $2.17 for fiscal 2013. Full Article
Lasalle Hotel Properties Declares Dividend For First Quarter 2013
Lasalle Hotel Properties announced that it has declared a quarterly dividend of $0.20 per common share of beneficial interest for the quarter ending March 31, 2013. The first quarter dividend will be paid on April 15, 2013 to common shareholders of record on March 28, 2013. Full Article
Lasalle Hotel Properties Announces Sale Of 400,000 Additional Series I Preferred Shares Pursuant To Underwriters Option
Lasalle Hotel Properties announced that the underwriters of its recent public offering of 6.375% Series I Cumulative Redeemable Preferred Shares have exercised their option to purchase an additional 400,000 Series I Preferred Shares, bringing the total number of shares issued in this offering to 4,400,000 Series I Preferred Shares. The Company intends to use the net proceeds from this offering for one or more of the following purposes: to redeem a portion of its outstanding Series G Preferred Shares, to reduce amounts outstanding under its senior unsecured credit facility, and for acquisitions, working capital and other general corporate purposes. Full Article
Lasalle Hotel Properties Announces Public Offering of 6.375% Series I Cumulative Redeemable Preferred Shares
Lasalle Hotel Properties announced that it has priced an underwritten public offering of 4,000,000 6.375% Series I Cumulative Redeemable Preferred Shares at a price of $25.00 per share for gross proceeds of $100 million. The Company granted the underwriters a 30-day option to purchase up to an additional 600,000 Series I Preferred Shares to cover over-allotments, if any. The offering is expected to close on March 4, 2013, subject to customary closing conditions. Wells Fargo Securities, BofA Merrill Lynch and Citigroup are acting as joint book-running managers for the offering, RBC Capital Markets is acting as lead manager, Barclays, BMO Capital Markets, Deutsche Bank Securities and Raymond James are acting as senior co-managers, and Baird, MLV & Co and US Bancorp are acting as co-managers. The Company intends to use the net proceeds from this offering for one or more of the following purposes: to redeem a portion of its outstanding Series G Preferred Shares, to reduce amounts outstanding under its senior unsecured credit facility, and for acquisitions, working capital and other general corporate purposes. Full Article
Lasalle Hotel Properties Issues Q1, FY 2013 Earnings Guidance Below Analysts' Estimates; Comments On Q1, FY 2013 RevPAR Guidance
LaSalle Hotel Properties announced that for fiscal 2013, it expects RevPAR growth of between 3.0%-6.0%, adjusted EBITDA of between $275-$295 million, adjusted funds from operation (FFO) to be in the range of $195-$214 million and adjusted FFO per diluted share to be in the range of $2.03-$2.23. For the first quarter of 2013, it expects RevPAR, excluding the Park Central Hotel to increase 4.0% to 6.0%, adjusted EBITDA of $37.0 million to $39.0 million and adjusted FFO per share/unit of $0.24 to $0.26. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report EBITDA of $300 million and FFO per share of $2.27 for fiscal 2013; EBITDA of $42.7 million and FFO of $0.28 for the first quarter of 2013. Full Article
Lasalle Hotel Properties Acquires Majority Interest In Liberty Hotel in Boston Through Joint Venture
Lasalle Hotel Properties announced that it has acquired a majority interest in The Liberty Hotel in Boston, Massachusetts through a joint venture with the original developer and co-owner, an entity controlled by Dick Friedman of Carpenter & Company, Inc. The total value of the transaction was $170.0 million. The Company funded this transaction with proceeds from its sale of common shares on December 19, 2012. Full Article
Lasalle Hotel Properties Announces Full Exercise of Underwriters` Option to Purchase Additional Shares
Lasalle Hotel Properties announced that, in connection with its previously announced public offering of 8,000,000 common shares at a price to the public of $23.70 per share, the underwriters exercised in full their option to purchase an additional 1,200,000 common shares. Including the option shares, the Company is issuing 9,200,000 shares in the offering, which is expected to close on December 19, 2012. Citigroup and Raymond James are acting as joint book-running managers for the offering, BMO Capital Markets is acting as lead manager, Deutsche Bank Securities, RBC Capital Markets and Wells Fargo Securities are acting as senior co-managers and BB&T Capital Markets, Piper Jaffray, PNC Capital Markets LLC and RBS are acting as co-managers. The Company intends to use the net proceeds of the offering, including proceeds from the exercise of the underwriters` option, to fund all or a portion of the cost of future hotel acquisitions, including the potential acquisition of a hotel in a major U.S. market in which the Company already owns properties, to reduce amounts outstanding under its senior unsecured credit facility and under the unsecured credit facility of the Company`s taxable REIT subsidiary, LaSalle Hotel Lessee, Inc., and for general corporate purposes. Full Article
Lasalle Hotel Properties Declares Dividend For Fourth Quarter 2012
Lasalle Hotel Properties announced that it has declared a quarterly dividend of $0.20 per common share of beneficial interest for the quarter ending December 31, 2012. The fourth quarter dividend will be paid on January 15, 2013 to common shareholders of record on December 31, 2012. Full Article
Lasalle Hotel Properties Announces Pricing Of 8,000,000 Common Shares
Lasalle Hotel Properties announced that it has priced a public offering of 8,000,000 common shares at a price to the public of $23.70 per share. All of the shares are being sold by the Company. The Company granted the underwriters an option to purchase up to an additional 1,200,000 common shares. Citigroup and Raymond James are acting as joint book-running managers for the offering, BMO Capital Markets is acting as lead manager, Deutsche Bank Securities, RBC Capital Markets and Wells Fargo Securities are acting as senior co-managers and BB&T Capital Markets, Piper Jaffray, PNC Capital Markets LLC and RBS are acting as co-managers. The Company intends to use the net proceeds of this offering to fund all or a portion of the cost of future hotel acquisitions, including the potential acquisition of a hotel in a major U.S. market in which the Company already owns properties, to reduce amounts outstanding under its senior unsecured credit facility and under the unsecured credit facility of the Company’s taxable REIT subsidiary, LaSalle Hotel Lessee, Inc., and for general corporate purposes. Full Article
Earnings vs. 
Estimates
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