On Friday, Shares of LaSalle Hotel Properties (NYSE:LHO), gained 0.71% to $34.21.
LaSalle Hotel Properties, declared results for the quarter ended June 30, 2015.
Second Quarter Results and Activities
- RevPAR: Room revenue per accessible room (“RevPAR”) for the quarter ended June 30, 2015 raised 4.1 percent to $219.76, as a result of a 4.4 percent enhance in average daily rate (“ADR”) to $252.51 and a 0.3 percent decrease in occupancy to 87.0 percent.
- Hotel EBITDA Margin: The Company’s hotel EBITDA margin for the second quarter raised 248 basis points from the comparable preceding year period to 38.5 percent, a quarterly record for the Company.
- Adjusted EBITDA: The Company’s adjusted EBITDA was $125.2 million, an enhance of 14.2 percent over the second quarter of 2014.
- Adjusted FFO: The Company generated second quarter adjusted FFO of $102.6 million, or $0.91 per diluted share/unit, contrast to $86.0 million, or $0.82 per diluted share/unit, for the comparable preceding year period, a per share/unit enhance of 11.0 percent.
- Dividend: On April 22, the Company raised its common dividend 20.0 percent to $0.45 per diluted share for the quarter ended June 30, 2015. The dividend represents an annualized rate of $1.80 per diluted share and a 4.8 percent yield based on the closing share price on July 21, 2015.
- Westin Copley Place Debt: On June 1, the Company repaid the $210.0 million mortgage secured by Westin Copley Place in Boston, Massachusetts. The Company has no remaining debt maturities in 2015. For details on a new loan secured by Westin Copley Place, please refer to the Subsequent Events section of this press release.
- ATM Program: The Company did not sell any shares under its ATM program during the second quarter or to date in the third quarter of 2015.
- Capital Investments: The Company invested $33.5 million of capital in its hotels, counting the completion of the first phase of the rooms renovation at Westin Michigan Avenue and deposits for the second phase of the rooms renovation at Westin Michigan Avenue, which is planned to start during the fourth quarter of 2015.
LaSalle Hotel Properties, a real estate investment trust (REIT), engages in the purchase, ownership, redevelopment, and leasing of primarily upscale and luxury full-service hotels in convention, resort, and urban business markets in the United States.
Shares of Solar3D Inc (NASDAQ:SLTD), inclined 1.31% to $3.88, during its last trading session.
Solar3D, declared that its MD Energy partner has been awarded a $10 million, 2- megawatt solar project with the Fresno/Clovis Wastewater Reclamation Facility, subject to approval by the city council. A city council meeting to approve the award is set for next Thursday, July 30, 2015.
Operated by the City of Fresno, the Fresno/Clovis Regional Water Reclamation Facility (RWRF) provides wastewater treatment services for the greater Fresno metropolitan area in order to protect public health and the environment.
Solar3D, Inc. provides photo voltaic based power systems for the residential, commercial, and agricultural markets in the United States. It also designs, finances, integrates, and manages systems ranging in size from 2 kilowatt for residential loads to multi megawatt systems for larger commercial projects.
At the end of Friday’s trade, Shares of Arch Coal Inc (NYSE:ACI), lost -12.29% to $0.198.
Arch Coal, will talk about its second quarter 2015 financial results in a conference call that will be webcast live on Thursday, July 30 at 11:00 a.m. Eastern time. Participating on the call will be Arch Chairman and Chief Executive Officer John W. Eaves, President and Chief Operating Officer Paul A. Lang and Senior Vice President and Chief Financial Officer John T. Drexler.
Arch Coal’s second quarter earnings release will be distributed via PR Newswire before the market opens on Thursday, July 30, and will be posted to the company’s website at that time.
Arch Coal, Inc. produces and sells thermal and metallurgical coal from surface and underground mines located in the United States. As of December 31, 2014, it operated or contracted out the operation of 16 mines; and owned or controlled about 5.1 billion tons of proven and probable recoverable reserves.
Finally, Coach Inc (NYSE:COH), ended its last trade with -1.73% loss, and closed at $30.47.
In one of the largest contracts between NJ TRANSIT and Motor Coach Industries (MCI), New Jersey’s public transportation board of directors has authorized the purchase of 772 fully featured MCI 45-foot Commuter Coaches.
In the latest equipment purchase in a 33-year relationship between NJ TRANSIT and MCI, the $395 million order for clean diesel, cruiser-style coaches will offer NJ TRANSIT riders three-point seatbelts, comfortable forward-facing seating for 57 passengers, in addition to individual airflow controls and reading lights. The six-year delivery plan for the new Commuter Coaches will start in 2016.
Coach, Inc. provides luxury accessories and lifestyle collections for women and men in the United States and internationally. It offers handbags, money pieces, wristlets, rings, charms, and cosmetic cases for women; and business cases, computer bags, messenger-style bags, totes, wallets, card cases, and belts, in addition to time administration and electronic accessories for men.
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