Chiron Investment Management LLC bought a new stake in LaSalle Hotel Properties (NYSE:LHO) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 272,900 shares of the real estate investment trust’s stock, valued at approximately $8,132,000. LaSalle Hotel Properties comprises 2.4% of Chiron Investment Management LLC’s investment portfolio, making the stock its 18th biggest position. Chiron Investment Management LLC owned about 0.24% of LaSalle Hotel Properties as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of LHO. Vanguard Group Inc. boosted its stake in shares of LaSalle Hotel Properties by 4.4% in the second quarter. Vanguard Group Inc. now owns 20,095,440 shares of the real estate investment trust’s stock valued at $598,844,000 after buying an additional 844,043 shares during the period. BlackRock Inc. lifted its stake in LaSalle Hotel Properties by 3.2% during the second quarter. BlackRock Inc. now owns 14,874,256 shares of the real estate investment trust’s stock worth $443,254,000 after purchasing an additional 456,149 shares during the last quarter. Morgan Stanley lifted its stake in LaSalle Hotel Properties by 14.9% during the first quarter. Morgan Stanley now owns 6,976,863 shares of the real estate investment trust’s stock worth $201,980,000 after purchasing an additional 902,406 shares during the last quarter. State Street Corp lifted its stake in LaSalle Hotel Properties by 3.4% during the second quarter. State Street Corp now owns 5,768,908 shares of the real estate investment trust’s stock worth $171,921,000 after purchasing an additional 189,034 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in LaSalle Hotel Properties by 6.8% during the second quarter. Goldman Sachs Group Inc. now owns 4,834,897 shares of the real estate investment trust’s stock worth $144,080,000 after purchasing an additional 307,543 shares during the last quarter.
Shares of LaSalle Hotel Properties (NYSE LHO) traded down 0.084% during trading on Wednesday, reaching $29.725. 215,272 shares of the company traded hands. The stock has a market capitalization of $3.37 billion, a P/E ratio of 11.050 and a beta of 1.18. The firm’s 50 day moving average is $28.68 and its 200-day moving average is $29.13. LaSalle Hotel Properties has a 12-month low of $23.05 and a 12-month high of $31.87.
LaSalle Hotel Properties (NYSE:LHO) last announced its quarterly earnings data on Wednesday, July 19th. The real estate investment trust reported $0.81 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.82 by ($0.01). The business had revenue of $307.04 million during the quarter, compared to analysts’ expectations of $318.94 million. LaSalle Hotel Properties had a return on equity of 13.05% and a net margin of 27.85%. LaSalle Hotel Properties’s revenue for the quarter was down 12.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 EPS. On average, equities research analysts anticipate that LaSalle Hotel Properties will post $1.68 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend is Thursday, September 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is presently 66.91%.
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Several research firms have weighed in on LHO. Robert W. Baird restated a “neutral” rating and set a $31.00 target price (up from $30.00) on shares of LaSalle Hotel Properties in a research note on Friday, June 16th. Deutsche Bank AG cut their target price on LaSalle Hotel Properties from $28.00 to $27.00 and set a “hold” rating for the company in a research note on Friday, July 21st. Boenning Scattergood set a $35.00 target price on LaSalle Hotel Properties and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Zacks Investment Research cut LaSalle Hotel Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, September 20th. Finally, BidaskClub cut LaSalle Hotel Properties from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.86.
LaSalle Hotel Properties Company Profile
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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