LaSalle Hotel Properties (LHO) Stake Lowered by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board lessened its stake in LaSalle Hotel Properties (NYSE:LHO) by 17.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,900 shares of the real estate investment trust’s stock after selling 5,300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in LaSalle Hotel Properties were worth $887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LHO. HG Vora Capital Management LLC acquired a new stake in shares of LaSalle Hotel Properties in the 1st quarter valued at approximately $232,080,000. Zimmer Partners LP acquired a new stake in shares of LaSalle Hotel Properties in the 1st quarter valued at approximately $82,940,000. Centersquare Investment Management LLC acquired a new stake in shares of LaSalle Hotel Properties in the 1st quarter valued at approximately $50,779,000. Millennium Management LLC boosted its holdings in shares of LaSalle Hotel Properties by 2,323.3% in the 1st quarter. Millennium Management LLC now owns 591,170 shares of the real estate investment trust’s stock valued at $17,150,000 after buying an additional 566,775 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of LaSalle Hotel Properties by 44.4% in the 1st quarter. Russell Investments Group Ltd. now owns 1,309,330 shares of the real estate investment trust’s stock valued at $37,848,000 after buying an additional 402,406 shares during the last quarter.

LHO stock opened at $34.02 on Tuesday. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 14.81 and a beta of 1.09. LaSalle Hotel Properties has a fifty-two week low of $24.10 and a fifty-two week high of $36.13.

LaSalle Hotel Properties (NYSE:LHO) last posted its quarterly earnings data on Thursday, August 9th. The real estate investment trust reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.49). The firm had revenue of $304.60 million for the quarter, compared to the consensus estimate of $300.86 million. LaSalle Hotel Properties had a return on equity of 3.31% and a net margin of 7.08%. The firm’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. equities analysts expect that LaSalle Hotel Properties will post 2.25 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 16th. Shareholders of record on Friday, June 29th were given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Thursday, June 28th. LaSalle Hotel Properties’s payout ratio is 36.44%.

Several equities research analysts have issued reports on LHO shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $30.50 price target on shares of LaSalle Hotel Properties in a report on Monday, April 16th. Zacks Investment Research raised LaSalle Hotel Properties from a “sell” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday, April 25th. JPMorgan Chase & Co. raised LaSalle Hotel Properties from an “underweight” rating to a “neutral” rating in a report on Thursday, May 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of LaSalle Hotel Properties in a report on Friday, May 11th. Finally, SunTrust Banks raised their price target on LaSalle Hotel Properties to $32.00 and gave the company a “hold” rating in a report on Friday, May 11th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $28.29.

LaSalle Hotel Properties Profile

LaSalle Hotel Properties is a leading multi-operator real estate investment trust. The Company owns 41 properties, which are upscale, full-service hotels, totaling 10,452 guest rooms in 11 markets in seven states and the District of Columbia. The Company focuses on owning, redeveloping and repositioning upscale, full-service hotels located in urban, resort and convention markets.

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Institutional Ownership by Quarter for LaSalle Hotel Properties (NYSE:LHO)

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