California State Teachers Retirement System trimmed its position in shares of LaSalle Hotel Properties (NYSE:LHO) by 4.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 201,700 shares of the real estate investment trust’s stock after selling 8,554 shares during the quarter. California State Teachers Retirement System owned approximately 0.18% of LaSalle Hotel Properties worth $6,011,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of LHO. First Mercantile Trust Co. grew its stake 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 valued at $113,000 after acquiring an additional 70 shares during the period. Ffcm LLC grew its stake 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 valued at $125,000 after acquiring an additional 2,445 shares during the period. IFP Advisors Inc grew its stake 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 valued at $136,000 after acquiring an additional 592 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in LaSalle Hotel Properties in the 1st quarter valued at $178,000. Finally, World Asset Management Inc acquired a new stake in LaSalle Hotel Properties in the 2nd quarter valued at $214,000.
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A number of research firms recently issued reports on LHO. Boenning Scattergood reissued a “hold” rating on shares of LaSalle Hotel Properties in a research note on Monday, October 23rd. TheStreet cut shares of LaSalle Hotel Properties from a “b” rating to a “c+” rating in a research note on Friday, October 20th. UBS AG cut shares of LaSalle Hotel Properties from an “outperform” rating to a “market perform” rating in a research note on Monday. Stifel Nicolaus reissued a “hold” rating on shares of LaSalle Hotel Properties in a research note on Tuesday, October 17th. Finally, Robert W. Baird set a $30.00 price target on shares of LaSalle Hotel Properties and gave the company a “hold” rating in a research note on Monday, October 23rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $29.00.
Shares of LaSalle Hotel Properties (LHO) opened at 27.98 on Monday. The firm has a market cap of $3.17 billion, a PE ratio of 10.41 and a beta of 1.18. LaSalle Hotel Properties has a 52 week low of $23.05 and a 52 week high of $31.87. The firm’s 50-day moving average is $29.09 and its 200 day moving average is $29.18.
LaSalle Hotel Properties (NYSE:LHO) last posted its earnings results on Thursday, October 19th. The real estate investment trust reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by ($0.46). The firm had revenue of $285.90 million during the quarter, compared to analyst estimates of $295.02 million. LaSalle Hotel Properties had a net margin of 18.10% and a return on equity of 8.31%. The firm’s revenue for the quarter was down 12.5% on a year-over-year basis. During the same period last year, the company posted $0.84 EPS. Equities research analysts forecast that LaSalle Hotel Properties will post $1.60 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 6.43%. The ex-dividend date was Thursday, September 28th. LaSalle Hotel Properties’s dividend payout ratio (DPR) is 111.11%.
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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