Short Interest in LaSalle Hotel Properties (LHO) Drops By 34.3%

LaSalle Hotel Properties (NYSE:LHO) saw a large decline in short interest in October. As of October 15th, there was short interest totalling 5,062,544 shares, a decline of 34.3% from the September 28th total of 7,702,728 shares. Based on an average trading volume of 1,653,059 shares, the days-to-cover ratio is presently 3.1 days. Approximately 5.1% of the shares of the stock are short sold.

Several brokerages recently commented on LHO. Zacks Investment Research lowered shares of LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Barclays reissued a “hold” rating and issued a $39.00 price target on shares of LaSalle Hotel Properties in a report on Sunday, September 9th. JPMorgan Chase & Co. boosted their price target on shares of LaSalle Hotel Properties from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Deutsche Bank set a $32.00 price target on shares of LaSalle Hotel Properties and gave the stock a “hold” rating in a report on Friday, October 19th. Finally, ValuEngine raised shares of LaSalle Hotel Properties from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. LaSalle Hotel Properties has an average rating of “Hold” and a consensus price target of $30.32.

Several institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings in shares of LaSalle Hotel Properties by 2.3% during the third quarter. Arizona State Retirement System now owns 78,388 shares of the real estate investment trust’s stock worth $2,711,000 after buying an additional 1,752 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of LaSalle Hotel Properties by 1.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 113,222 shares of the real estate investment trust’s stock worth $3,876,000 after buying an additional 2,090 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of LaSalle Hotel Properties by 2.5% during the second quarter. Mutual of America Capital Management LLC now owns 94,906 shares of the real estate investment trust’s stock worth $3,249,000 after buying an additional 2,311 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in shares of LaSalle Hotel Properties by 3.1% during the second quarter. OppenheimerFunds Inc. now owns 81,368 shares of the real estate investment trust’s stock worth $2,785,000 after buying an additional 2,480 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its holdings in shares of LaSalle Hotel Properties by 1,209.1% during the second quarter. Meeder Asset Management Inc. now owns 3,325 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 3,071 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE LHO opened at $33.13 on Wednesday. The firm has a market capitalization of $3.59 billion, a P/E ratio of 13.42, a P/E/G ratio of 2.81 and a beta of 1.07. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 0.46. LaSalle Hotel Properties has a one year low of $24.10 and a one year high of $36.13.

LaSalle Hotel Properties (NYSE:LHO) last issued its quarterly earnings results on Thursday, August 9th. The real estate investment trust reported $0.28 EPS for the quarter, missing the consensus estimate of $0.77 by ($0.49). LaSalle Hotel Properties had a return on equity of 3.31% and a net margin of 7.08%. The company had revenue of $304.60 million during the quarter, compared to analysts’ expectations of $300.86 million. During the same period in the previous year, the firm posted $0.81 EPS. LaSalle Hotel Properties’s revenue was down .8% compared to the same quarter last year. Equities research analysts expect that LaSalle Hotel Properties will post 2.31 earnings per share for the current year.

About LaSalle Hotel Properties

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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