Nationwide Fund Advisors increased its position in LaSalle Hotel Properties (NYSE:LHO) by 41.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 389,869 shares of the real estate investment trust’s stock after acquiring an additional 113,800 shares during the quarter. Nationwide Fund Advisors owned about 0.34% of LaSalle Hotel Properties worth $11,618,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Mercantile Trust Co. increased its holdings in LaSalle Hotel Properties by 1.9% in the 2nd quarter. First Mercantile Trust Co. now owns 3,790 shares of the real estate investment trust’s stock worth $113,000 after acquiring an additional 70 shares during the last quarter. Ffcm LLC increased its holdings in LaSalle Hotel Properties by 150.1% in the 2nd quarter. Ffcm LLC now owns 4,074 shares of the real estate investment trust’s stock worth $125,000 after acquiring an additional 2,445 shares during the last quarter. IFP Advisors Inc increased its holdings in LaSalle Hotel Properties by 14.9% in the 2nd quarter. IFP Advisors Inc now owns 4,577 shares of the real estate investment trust’s stock worth $136,000 after acquiring an additional 592 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in LaSalle Hotel Properties in the 1st quarter worth about $178,000. Finally, World Asset Management Inc purchased a new stake in LaSalle Hotel Properties in the 2nd quarter worth about $214,000.
LHO has been the subject of several recent research reports. Zacks Investment Research raised LaSalle Hotel Properties from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub raised LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a report on Tuesday, June 13th. Robert W. Baird reissued a “neutral” rating and issued a $31.00 price objective (up previously from $30.00) on shares of LaSalle Hotel Properties in a report on Friday, June 16th. Boenning Scattergood set a $35.00 price objective on LaSalle Hotel Properties and gave the stock a “buy” rating in a report on Tuesday, June 27th. Finally, Deutsche Bank AG decreased their price objective on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating for the company in a report on Friday, July 21st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $28.88.
Shares of LaSalle Hotel Properties (NYSE:LHO) opened at 28.80 on Monday. The company has a market cap of $3.26 billion, a P/E ratio of 10.71 and a beta of 1.17. LaSalle Hotel Properties has a 12 month low of $23.05 and a 12 month high of $31.87. The stock’s 50 day moving average price is $28.35 and its 200-day moving average price is $29.10.
LaSalle Hotel Properties (NYSE:LHO) last released its earnings results on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.01). LaSalle Hotel Properties had a return on equity of 13.05% and a net margin of 27.85%. The business had revenue of $307.04 million for the quarter, compared to analysts’ expectations of $318.94 million. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue for the quarter was down 12.5% compared to the same quarter last year. Equities research analysts expect that LaSalle Hotel Properties will post $1.68 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.25%. The ex-dividend date is Thursday, September 28th. LaSalle Hotel Properties’s dividend payout ratio is currently 66.91%.
About LaSalle Hotel Properties
LaSalle Hotel Properties is a self-administered and self-managed real estate investment trust. The Company primarily buys, owns, redevelops and leases upscale and luxury full-service hotels located in convention, resort and urban business markets. As of December 31, 2016, the Company owned interests in 46 hotels with approximately 11,450 guest rooms located in nine states of the United States and the District of Columbia (DC).
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